Requirement 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. a.Actual sales in December were $71,000 Selling price per unit is projected to remain stable at $12 per unit throughout the budget period Sales for the first five months of the upcoming year are budgeted to be as follows: b.Sales are 35% cash and 65% credit All credit sales are collected in the month following the sale