The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales Sales Budget: Unit Sales Sales Price Sales on Account Cash Collections: Q1 12,000 The selling price of the company's product is $19.00 per unit. Management expects to collect 70% of sales in the quarter in which the sales are made and 30% in the following quarter. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $75,000. 6a. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. (10 points) Beginning Accounts Receivable Quarter of Sale 70% Quarter following 30% Total Cash Collections Q1 Q2 13,000 Q1 Q2 Q3 14,000 6b. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. (10 points) Q3 Q2 Q4 13,000 Q3 Q4 Annual Q4 Annual

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoaing fiscal year (all sales are on account): The selling price of the company's product is $19.00 per unit. Management expects to collect 70% of sales in the quarter in which the sales are made and 30% in the following quarter. The beginning balance of accounts receivable, all of which is expected to be collected in the first quatter, is $75,000. 6a. Calculate the estimated sales for each quarter of the fiscal year and bor the year as a whole. (10 points) 6b. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. (10 points)