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The Terranova Company is preparing information to complete its master budget for the quarter ending December 31, 2020. The company intends to make unit sales

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The Terranova Company is preparing information to complete its master budget for the quarter ending December 31, 2020. The company intends to make unit sales in the related months as follows: September 5,000 October 9,750 November 11,700 December 14,625 Units are to be sold for $10 each. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following the sale. *Required: 1) Prepare a sales budget for Terranova for the quarter ending December 31, 2020. Show activity by month and in total. (Hint: a quarter = 3 months.) 2) Complete a schedule of expected cash collections for the quarter ending December 31, 2020. Show activity by month and in total

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