Current Attempt in Progress Vaughn Company's budgeted sales and direct materials purchases are as follows Budgeted Sales Budgeted D.M. Purchases January $248,000 $37.200 February 272,800 44,640 March 310.000 47.120 Vaughn'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. Vaughn'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 porchase. (a) Prepare a schedule of expected collections from customers for March purchase. (a) Prepare a schedule of expected collections from customers for March VAUGHN COMPANY Schedule of Expected Collections from Customers March A > Total collections (b) Prepare a schedule of expected payments for direct materials for March VAUGHN COMPANY Schedule of Expected Payments for Direct Materials March