Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:

		January		February
Sales		$367,920		$408,800
Direct materials purchases		122,640		127,750
Direct labor		91,980		102,200
Manufacturing overhead		71,540		76,650
Selling and administrative expenses		80,738		86,870

All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,022 of depreciation per month. Other data:

1.		Credit sales: November 2016, $255,500; December 2016, $327,040.
2.		Purchases of direct materials: December 2016, $102,200.
3.		Other receipts: JanuaryCollection of December 31, 2016, notes receivable $15,330;
		FebruaryProceeds from sale of securities $6,132.
4.		Other disbursements: FebruaryPayment of $6,132 cash dividend.

The companys cash balance on January 1, 2017, is expected to be $61,320. The company wants to maintain a minimum cash balance of $51,100.

O T-Mobile LTE6:56 PM Chapter 9B Homework Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: Dinect materials puchane All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,022 of depreciation per month. Other data s. Credit sales: November 2016, $255,500; December 2016, $327,040. 2. Purchases of direct materials: December 2016, $102,200. Other receipts: January-Collection of December 31, 2016, notes receivable $15,330: February-Proceeds from sale of securities $6,132 Other disbursements: February-Payment of $6,132 cash dividend The company's cash balance on January 1, 2017, is expected to be $61,320. The company wants to maintain a minimum cash balance of $51,100. Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February Tutal payments