The marketing department of Jessi Corporation has submited the following sales forecast for the upcoming fiscal year (all sales are on account) 1st Quarter2nd Quarter 3rd Quarter 4th Quarter 11,200 12.200 14,200 13,200 The selling price of the company's product is S11 per unit Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The first quarter, is $70,600 balance of accounts receivable, all of which is expected to be collected in the The company expects to start the first quarter with 1,680 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,880 units Required 1-a. Complete the company's sales budget. Jessi Corporation Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted units sales Selling price per unit 1 Total sales 12,200 11S1 11,200 14,200 13,200 50,800 11 $11 123,200 134,200 156,200 145,200 558,800 1-b. Complete the schedule of expected cash collections