(b) View Policies Current Attempt in Progress Crane Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. January $160,000 February 176,000 March 200,000 Purchases $24,000 28,800 30,400 Crane's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Crane's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. CRANE COMPANY Schedule of Expected Collections from Customers Total collections March