The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account):

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
Budgeted unit sales	11,000	12,000	14,000	13,000

The selling price of the companys product is $18.00 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 beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $70,200.

The company expects to start the first quarter with 1,650 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,850 units.

1-b. Complete the schedule of expected cash collections.

Jessi Corporation
Schedule of Expected Cash Collections
	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Beginning accounts receivable					$0
1st Quarter sales					0
2nd Quarter sales					0
3rd Quarter sales					0
4th Quarter sales					0
Total cash collections	$0	$0	$0	$0	0