Homework Assignment 2 (7.5%) Exercise 1. Mandall Company is a merchandising company that sells a single product. The company provided the budgeted sales in units for the next fourth quarter October November December Budgeted unit Sales 20,000 units 30,000 units 25,000 units Selling price is $50 per unit. Mandall Company expects to collect 30% of a month's sales in the month of sale, 60% in the month following sale, and 10% are uncollectable. The beginning balance of accounts receivable, all of which is expected to be collected in October is $90,000 Required: Prepare the schedule of expected cash collections from sales by month and in total for the fourth quarter. (2 marks)