Culver Company's budgeted sales and direct materials (DM) purchases are as follows. Budgeted Sales Budgeted DM Purchases January $320,000 $54,000 February 335,000 68,000 March 370,000 85,000 Culver'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. Culver's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of the purchase and 60% in the month following the purchase. (a) Your answer is partially correct. Prepare a schedule of budgeted cash receipts from customers for March. CULVERCOMPANY Budgeted Cash Receipts from Customers March March Cash Sales 111000 Collection of March Credit Sales 22200 Collection of February Credit Sales 100500 0902 Collection of January Credit Sales 64800 Budgeted cash receipts 298500