Q5. ToraBika corporation manufactures and sells a seasonal product that has peak sales in the third quarter. The following information concerns operations for year 2-the coming year and for the first two quarters of year 3: a. The company's single product sells for Tk. 10 per unit. Budgeted unit sales for the next six quarters are as follows(all sales are credit sales): year 2 Year 3 quarter quarter 1 2 3 1 2 40,000 units 60,000 units 1,00,000 units 50,000 units 60,000 units 70,000 units b. Sales are collected in the following pattern: 65% in the quarter the sales are made, and the remaining 35% in the following quarter. On January 1, year 2, the company's balance sheet showed tk. 63,000 in accounts receivable, all of which will be collected in the first quarter of the year. Bad debts are negligible and can be ignored. c. Raw materials purchased in the following patterns Y2 y3 Q1 Q2 Q3 Q4 Q5 Q6 11,50,000 12,10,000 10,50,000 9,50,000 11,35,000 12,00,00 The raw material costs Tk. 0.90 per pound. Raw material purchases are paid for in the following pattern: 70% paid in the quarter the purchases are made, and the remaining 30% paid in the following quarter. On January 1, year 2, the company's balance sheet showed Tk.83,500 in accounts payable for raw material purchases, all of which will be paid for in the first quarter of the year. Requirement: (a) Prepare schedule of expected cash collections from accounts receivable (b) Prepare schedule of expected cash payment to accounts payable. (05+05=10)