Exercise 9-17 (Video) Nieto Company's budgeted sales and direct materials purchases are as follows. January February Budgeted Sales Budgeted D.M. Purchases $266,000 $39,000 227,700 39,000 310,800 43,500 March 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. (a) Prepare a schedule of expected collections from customers for March. NIETO COMPANY March Total collections (b) Prepare a schedule of expected payments for direct materials for March. NIETO COMPANY Expected Payments for Direct Materials March Total payments A