Ivanhoe Company's budgeted sales and direct materials purchases are as follows.

Ivanhoe's sales are $30\%$ cash and $70\%$ credit. Credit sales are collected $10\%$ in the month of sale, $50\%$ in the month following sale, an

$3696$ in the second month following salk; $4\%$ are uncollectible. Ivanhoe's purchases are $50\%$ cash and $50\%$ on account. Purchases on

account are paid $4096$ in the month of purchase, and $609$ in the month following purchase.

$($a$)$

Prepare a schedule of expected collections from customers for March.

INANHOE COMPANY

Expected Collections from Customers

March

$

Total collections

$

$($b$)$

Prepare a schedule of expected payments for dirset materials for March.

INANHOE COMPANY

Expected Payments for Direct Materials

March

$

Tatal payments