Current Attempt in Progress Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases" January $239.000 $32.800 February 220,500 48.300 March 255,600 52,200 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases account are paid 40% in the month of purchase and 60% in the month following purchase.