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Crane Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted DM Purchases January $160,000 524.000 February 20.000 176.000 200,000 March 30.400 Cranes 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 Crane'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. la) Prepare a schedule of expected collections from customers for March Prepare a schedule of expected collections from customers for March CRANE COMPANY Schedule of Expected Collections from Customers March Tots collections Prepare a schedule of expected payments for direct materials for March CRANE COMPANY Schedule of Expected Payments for Direct Materials March $ Total payments $