E22.17 (LO 4), AP Nieto Company's budgeted sales and direct materials purchases are as follows. 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, and 36% in the second month following sale; 4% are uncollectible. Nieto'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 purchase. Instructions a. Prepare a schedule of expected collections from customers for March. b. Prepare a schedule of expected payments for direct materials for March