Coronado Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases $ 35,400 January February March $ 236,000 259,600 295,000 42.480 44,840 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 $