Colter company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows. 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 sale. Sixty percent(60%) of direct materials purchases are paid in cash in the month of purchases, balance due is paid in the month following the purchase. All other items are paid in the month incurred for selling and administrative expenses that include $1, 062 of depreciation per month. Prepare schedules for (1) expected collections from customers and 92) expected payments wants to maintain cash balance of $53, 100