(1) the expected collections from customers. (2) the expected payments for direct materials purchases. Sheffield Company prepares monthly cash budgets. Relevant data from operating budgets for 2023 are as follows: All sales are on account. Sheffield expects collections to be \50 in the month of sale, \40 in the first month following the sale, and \10 in the second month following the sale. It pays \30 of direct materials purchases in cash in the month of purchase and the balance due in the month following the purchase. 1. Credit sales: November \\( 2022, \\$ 198,000 \\); December \\( 2022, \\$ 282,000 \\) 2. Purchases of direct materials: December \\( 2022, \\$ 91,000 \\) 3. Other receipts: January-collection of Decernber 31,2022 , notes receivable \\( \\$ 5,000 \\); February-proceeds from sale of securities \\( \\$ 6,000 \\) 4. Other disbursements: February-payment of \\( \\$ 20.000 \\) for land The company expects its cash balance on January 1,2023 , to be \\( \\$ 50,000 \\). It wants to maintain a minimum cash balance of \\( \\$ 40,000 \\)