Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows.

		January		February
Sales		$370,800		$412,000
Direct materials purchases		123,600		128,750
Direct labor		92,700		103,000
Manufacturing overhead		72,100		77,250
Selling and administrative expenses		81,370		87,550

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 $1,030 of depreciation per month. Other data:

1.		Credit sales: November 2019, $257,500; December 2019, $329,600.
2.		Purchases of direct materials: December 2019, $103,000.
3.		Other receipts: JanuaryCollection of December 31, 2019, notes receivable $15,450;
		FebruaryProceeds from sale of securities $6,180.
4.		Other disbursements: FebruaryPayment of $6,180 cash dividend.

The companys cash balance on January 1, 2020, is expected to be $61,800. The company wants to maintain a minimum cash balance of $51,500.

Need Bottom half done

Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February. Expected Collections from Customers January February November 51500 December 98880 65920 January 185400 111240 February 206000 Total collections 335780 383160 Expected Payments for Direct Materials January February December 41200 January 74160 49440 February 77250 Total payments 115360 126690 Prepare a cash budget for January and February in columnar form. COLTER COMPANY Cash Budget January February $