Coronado Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $ 184,000 $ 27,600 February 202,400 33,120 March 230,000 34,960 Coronado'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. Coronado'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. (a) Prepare a schedule of expected collections from customers for March. CORONADO COMPANY Schedule of Expected Collections from Customers March > $ > Total collections $ (b) Prepare a schedule of expected payments for direct materials for March. CORONADO COMPANY Schedule of Expected Payments for Direct Materials March $ Total payments $