Page 2 QUESTION 1 (Continued) PART B (12 marks) Budget - Compulsory Trump Corporation has submitted the following sales forecast for the upcoming fiscal year. Budgeted unit sales 1st Quarter 10,000 2nd Quarter 12,000 The selling price of the company's product is $10.00 Oper unit. 3rd Quarter 14,000 4th Quarter 15,000 Management expects to collect 80% of sales in the quarter in which the sales are made and 20% in the following quarter. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $50,000. Required: 1. Prepare the company's sales budget. (4 marks) 2. Prepare the company's schedule of expected cash collections. (8 marks)