Johnson Company's budgeted sales and direct materials purchases are as follows:

Budgeted Sales Budgeted D.M. Purchases

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January $251,000 $35,100

February $282,800 $40,100

March $342,600 $46,700

Johnson's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the following sale, and 36% in the second month following sale; 4% are uncollectible. Johnson'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 purchases.

-Prepare a schedule of expected collections from customers for March.

Collections of January credit sales: $

Collections of February credit sales $

Collections of March credit sales $

March cash sales $

Total Collections:

-Prepare a schedule of expected payments for direct materials for March:

Payment of February credit purchases $

Payment of March credit purchases $

March cash purchases $

Total Payments: