Question Jaka Sdn Bhd., manufactures and sells concrete blocks for residential and commercial building. Jaka expects the following sales unit, price per unit and desired ending inventory for year 2021. Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales unit 2,000,000 6,000,000 6,000,000 2,000,000 Price/unit (RM) 0.70 0.70 0.80 0.80 Ending Inventory 500,000 500,000 100,000 100,000 Inventories for both 1st January 2021 and 1st January 2022 are expected to be 100,000 blocks. The raw materials and direct labour required for each concrete block are as follows: Units Cost Raw materials 26kg RM0.01/kg Direct labour 0.015 hour RM14/hour Jakas policy is to have 5 million kg of raw materials in ending inventory for the third and fourth quarters and 8 million kg of the materials in ending inventory for the first and second quarters.

Based Jaka's experience, fifty percent (50%) of sales are paid in cash. Of the sales on account, seventy percent (70%) are collected in the quarter of sale; the remaining thity percent (30%) are collected in the quarter following the sale. Total sales for the fourth quarter of 2020 totaled RM2,000,000.

Refering to the sales budget below, construct a cash receipts budget including an account receivable aging schedule for Jaka Sdn Bhd for each quarter of year 2021.

Sr. No.	Sales Budget	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year 2021	Remarks
1	Sales units	2,000,000	6,000,000	6,000,000	2,000,000	16,000,000
2	Price/unit	0.70	0.70	0.80	0.80
3	Sales value	1,400,000	4,200,000	4,800,000	1,600,000	12,000,000	1 X 2