Concord Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $172,000 February 189,200 March 215,000 $25,800 30,960 32,680 Concord's sales are 30% cash and 70% 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. Concord's 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. (e) Prepare a schedule of expected collections from customers for March. CONCORD COMPANY Schedule of Expected Collections from Customers Total collections $ March (b) Prepare a schedule of expected payments for direct materials for March. CONCORD COMPANY Schedule of Expected Payments for Direct Materials March $