CALCULATOR RACK Exercise 22-17 (Video) Wildhorse Company's budgeted sales and direct materials purchases are as follows. Budgeted sales Budgeted D.M. Purchases January $274,000 $37,200 February 244,200 38,100 March 261,800 40,200 Wildhorse's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sales in the month following sale, and in the second month following sale: are uncollectible, Wildhorse's purchases are 50% cash and 50% on account Archases on account are vald 40 in the month of purchase and to in the month following purchase. (a) Prepare a schedule of expected collections from customers for March WILDHORSE COMPANY Expected Collections from Customers March Total collections > Total collections $ Prepare a schedule of expected payments for direct materials for March. WILDHORSE COMPANY Expected Payments for Direct Materiais March 5 Total payments