The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year. Ist Quarter 8,100 2nd Quarter 10,100 3rd Quarter 12,100 4th Quarter Budgeted sales (units) 11, 10e The selling price of the company's product is $21 per unit. Management expects to collect 55% of sales in the quarter in which the sales are made and 40% 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 $81,500. The company expects to start the first quarter with 2.050 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 2.300 units. Required: 1-a. Prepare the company's sales budget. Answer is complete and correct. JESSI CORPORATION 1st Quarter Sales Budget 2nd 3rd Quarter 4th Quarter Quarter 212.100 S 254.100 s 233, 100S Year Total sales S 170.100S 869,400 Prey 1 of 1 Next Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does 1-b. Prepare the schedule of expected cash collections. X Answer is not complete. JESSI CORPORATION Schedule of Expected Cash Collections 2nd 1st Quarter 3rd Quarter Quarter $ 81,500 4th Quarter Year Accounts receivable beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections S 81 500 $ 0 $ 0 $ 0 S 0 2. Prepare the company's production budget for the upcoming fiscal year. Answer is complete and correct. JESSI CORPORATION Production Rudaet Prey 1 of 1 Next