Company E has budgeted sales and direct materials purchases are as follows.

Budgeted Sales

Budgeted D.M. Purchases

	January	$300,000		$60,000
	February	330,000		75,000
	March	400,000		82,000

Gnswold sales are 40% cash and 60% 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. Gnswold 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. Instructions

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