Home Furnishing Co. had the following projected sales (in units) for one of the products it manufactures: October 600 units November 750 units December 800 units The fully completed units sell for $510 each. All sales are on credit. Based on the company's collections history, management has found that 60% of sales are collected in the month of sale, 30% are collected in the month following the sale and the final 10% is collected two months following the sale. Bad debts are negligible and can be ignored. Required: Prepare a schedule of cash collections showing how much cash will be collected in December. (5 marks) b) What will the accounts receivable balance be on December 31? (2 marks)