Current Attempt in Progress Paddu Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $138,900; February $189,900; March $249,400 Budgeted direct materials purchases: January $40,100; February $34,800; March $39,900 Paddu's sales are 35% cash and 65% credit. It collects credit sales 40% in the month of sale, 60% in the month following the sale. Paddu's purchases are 40% cash and 60% on account. It pays purchases on account 60% in the month of purchase, and 40% in the month following purchase. Prepare a schedule of expected collections for January, February, and March Paddu Company Expected Collections January February March Collect $ Cash sales 48615 $ 66465 $ 87290 Collections of credit sales: 36114 54171 January sales 49374 74061 February sales 64844 March sales $ 84729 170010 226195 Total collections