The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year: 2nd 1st Quarter 8,800 3rd Quarter 12,800 Quarter 10,800 4th Quarter 11,800 Budgeted sales (units) The selling price of the company's product is $28 per unit. Management expects to collect 60% of sales in the quarter in which the sales are made and 35% in the following quarter, 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which are expected to be collected in the first quarter , is $88,500. The company expects to start the first quarter with 2,400 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 2,650 units. Required: 1-a. Prepare the company's sales budget. JESSI CORPORATION Sales Budget 2nd Quarter 3rd Quarter 1st Quarter 4th Quarter Year Total sales 1-b. Prepare the schedule of expected cash collections