Coronado Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as follows. All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first Wonth following the sale, and 20% in the second month following the sale. Sibty 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 eccept for selling and administrathe expenses that include $920 of depreciation per month. Otherdata: 1. Credit sales: November 2021,\$230,000; December 2021,\$294,400. 2. Purchases of direct materials: December 2021, $92,000. 3. Other recelpts: January-Collection of December 31,2021 , notes recelvable $13,800; February-Proceeds from sale of securities $5,520. 4. Other disbursements: February-Payment of $5,520 cash dividend. The company's cash balance on January 1, 2022, is expected to be $55,200. The company wants to maintain a minimum cash balance of $46,000. Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February. CORONADO COMPANY Schedule of Expected Collections from Customers