3 of 16 View Policies < Current Attempt in Progress Paddu Company's budgeted sales and direct materials purchases follow January was the first month of operations Budgeted sales: January $139,000; February $188,600; March $251,200 Budgeted direct materials purchases: January $40,300; February $35,300, March $40,200 -16 Paddu's sales are 35% cash and 65% credit. It collects credit sales 40% in the month of sale, 60% in the month following the sale Paddu's purchases are 40% cash and 60% on account. It pays purchases on account 60% in the month of purchase, and 40% in the month following purchase. Prepare a schedule of expected collections for January, February, and March Paddu Company Expected Collections January February March Prepare a schedule of expected collections for January, February, and March Collections: Cash sales Collections of credit sales January sales February sales March sales Total collections Paddu Company Expected Collections January February March Prepare a schedule of expected payments for direct materials for January, February and March. Payments Cash purchases Payment of credit purchases: January purchases February purchases March purchases Total payments Save for Later Paddu Company Expected Payments January February March Attempts: 0 of 1 used Submit Annwer