The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Budgeted unit 12,400 13,400 15,400 14.400 sales The selling price of the company's product is $23 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 $73,000. The company expects to start the first quarter with 2,480 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,680 units. Required: Complete the company's sales budget. Jessi Corporation Sales Budget 2nd 1st 3rd 4th Year Quarter Quarter Quarter Quarter Budgeted units sales Selling price per unit Total sales b. Complete the schedule of expected cash collections Jessi Corporation Schedule of Expected Cash Collections 1st 2nd 3rd Year Quarter Quarter Quarter Quarter Beginning accounts receivable 0 1st Quarter sales 01 2nd Quarter sales 01 3rd Quarter sales 0 4th Quarter sales S 0 0 S 0 0 0 Total cash collections