Exercise 10.29 a-b NIU Company's budgeted sales and direct materials purchases are as follows: Budgeted Direct Materials Purchases Budgeted Sales January $205,000 $30,000 February 209,000 32,000 March 300,000 46,000 NIU's sales are 40% cash and 60% credit . It collects credit sales 10 % in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4 % are uncollectible. t pays purchases on account 60% in the month of purchase, and 40% in the month following purchase NIU's purchases are 50% cash and 50% on account. Prepare a schedule of expected collections from customers for March. NIU COMPANY Schedule of Expected Colllections from Customers For the Month Ending March 31, 2020 January-credit sales February-credit sales March-cash sales March-credit sales Total expected collections from customers Prepare a schedule of expected payments for direct materials for March NIU COMPANY Schedule of Expected Payments for Direct Materials For the Month Ending March 31, 2020 February-credit payments March-cash payments March-credit payments Total expected payments 0