Bonita Companys budgeted sales and direct materials purchases are as follows.

		Budgeted Sales		Budgeted D.M. Purchases
January		$232,000		$34,800
February		255,200		41,760
March		290,000		44,080

Bonitas 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. Bonitas 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.

BONITA COMPANY Schedule of Expected Collections from Customers
		March
select an item February cash salesPayment of March credit purchasesCollection of January credit salesPayment of February credit purchasesJanuary cash salesMarch cash salesMarch cash purchasesCollection of February credit salesCollection of March credit sales		$enter a dollar amount
select an item Payment of March credit purchasesMarch cash purchasesFebruary cash salesCollection of February credit salesPayment of February credit purchasesCollection of January credit salesMarch cash salesJanuary cash salesCollection of March credit sales		enter a dollar amount
select an item March cash purchasesJanuary cash salesCollection of February credit salesCollection of March credit salesPayment of February credit purchasesFebruary cash salesPayment of March credit purchasesMarch cash salesCollection of January credit sales		enter a dollar amount
select an item Payment of March credit purchasesMarch cash salesCollection of February credit salesCollection of March credit salesPayment of February credit purchasesCollection of January credit salesMarch cash purchasesFebruary cash salesJanuary cash sales		enter a dollar amount
Total collections		$enter a total amount

(b) Prepare a schedule of expected payments for direct materials for March.

BONITA COMPANY Schedule of Expected Payments for Direct Materials
		March
select an item Collection of February credit salesCollection of January credit salesMarch cash purchasesMarch cash salesPayment of February credit purchasesCollection of March credit salesFebruary cash salesJanuary cash salesPayment of March credit purchases		$enter a dollar amount
select an item Collection of January credit salesPayment of March credit purchasesCollection of March credit salesCollection of February credit salesMarch cash salesFebruary cash salesPayment of February credit purchasesJanuary cash salesMarch cash purchases		enter a dollar amount
select an item Payment of February credit purchasesCollection of January credit salesJanuary cash salesFebruary cash salesCollection of February credit salesCollection of March credit salesMarch cash purchasesMarch cash salesPayment of March credit purchases		enter a dollar amount
Total payments		$enter a total amount