Instructions: (A) Answer the given problems. Follow the letters (A to Z to AA to AZ and so on) as a guide. The numbered items are the official requirements which will be graded. (B) Submit your answers through the google form. Keep peso amounts rounded off to two decimal places. (C) Upload supporting computations. Problem 1: ABC Corporation is preparing its sales and receivable budget for the year 2022. Details are as follows: The sales during the 4th quarter of 2021 is 30,000 units and the selling price per unit is P500 per unit. Units to be sold is forecasted to increase by 5% per quarter while the sales price for 2022 will be 2% higher than the previous P500 per unit. of the sales per quarter, 55% are cash sales while the remaining credit sales. The credit sales are expected to be settled as follows: 5/9 will be collected during month of sales, 3/9 will be collected the month after month of sales, and the remaining will be written off two months after month of sale. The forecasted receivable balance on Jan. 1, 2022 is P3,500,000, 90% of which is expected to be collected during the first quarter while the remaining will be written off during the second quarter of 2022 YLLI IL LILLESH WILLIE VERHUU UUELLE WELL Required: 14 Quarter 2nd Quarter 3rd Quarter 4 Quarter Sales 1. 2. 3. 4. Receivable balance as of the end of 5. 6. 7. 8. Cash collections 9. 10. 11. 12. Supporting Tables: A. Sale Budget (Note: Round off the units to whole numbers.) 1. Quarter 2 Quarter 3 Quarter 4h Quarter Sales Price A A A Multiplied by: Units to be sold B C D E Sales F/1. G/2. H/3. 1/4. B. Sales Composition Percen 1* Quarter 2 Quarter 3 Quarter 4th Quarter t Cash Sales L N P R Credit M 0 S Sales Total Sales % 100% F G H 1 Collection from Credit Sales/Accounts Receivable Collections during: Write-offs for Total 1" Quarter 2 Quarter 2 3 Quarter 4 Quarter the year Receivables From Beginning u U V T Receivables From credit sales made in: : - 1 Quarter W X Y . M - 2 Quarter Z AA AB o - 3 Quarter AC AD Q -4h Quarter AE S Totals AF AG AH AI AJ AK 1 D. T-account Analysis of Accounts Receivable T Accounts Receivable 1- Quarter T T Beginning Balance Credit Sales M U Collections from beginning bal. Collections from credit sales this quarter w Write-offs -0- 2nd Quarter AL/5. Balance Credit Sales 0 Collections from credit sales from last quarter X Collections from credit sales from this quarter z Write-offs V 3 Quarter Balance AM/6. Q Credit Sales Collections from credit sales from last quarter AA Collections from credit sales from this quarter AC Write-offs Y 4* Quarter AN/7. Balance Credit Sales S Collections from credit sales from last quarter AD Collections from credit sales from this quarter AE Write-offs AB Balance AO/8. E. Total Cash Collections: Alternatively, the collections can be combined and shown as: , Collections from: 1 Quarter 2nd Quarter 3 Quarter 4 Quarter Cash Sales U U AA AD Credit Sales w Z AC AE Total Collections AP/9. AQ/10. AR/11 AS/12