Due at 11:59 tonight, please help!

Problem 21-4A (Part Level Submission) Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses January $400,320 133,440 100,080 77,840 87,848 February $444,800 139,000 111,200 83,400 94,520 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,112 of depreciation per month. Other data: 1. Credit sales: November 2016, $278,000; December 2016, $355,840. 2. Purchases of direct materials: December 2016, $111,200. Other receipts: January-Collection of December 31, 2016, notes receivable $16,680; FebruaryProceeds from sale of securities $6,672. 4. Other disbursements: February-Payment of $6,672 cash dividend. 3. The company's cash balance on January 1, 2017, is expected to be $66,720. The company wants to maintain a minimum cash balance of $55,600. (a) Your answer is correct. Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February Expected Collections from Customers January February November 55600 December 106752 71168 January 200160 120096 February 222400 Total collections 3625121 413664 Expected Payments for Direct Materials January February December 44480 January 80064 53376 February 83400 Total payments 124544 136776 Click if you would like to Show Work for this question: Open Show Work (b) Your answer is partially correct. Try again. Prepare a cash budget for January and February in columnar form. (Do not leave any answer field blank. Enter o for amounts.) COLTER COMPANY Cash Budget January February Beginning Cash Balance 66720 56712 Add Receipts Collections from Customers 362512 413664 Notes Receivable 16680 Sale of Securities 6672 Total Receipts 445912 477048 Disbursements Add Direct Materials 445912 BUONI SODDDDD 1 00 BIBLI BODILII ] || Click if you would like to show Work for this question Open Show Work