K Coronado Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as follows. Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses Other data: 2. 3. January $424,800 141,600 106,200 November 82,600 December 93,220 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,180 of depreciation per month. S February $472,000 147,500 118,000 Credit sales: November 2021, $295,000; December 2021, $377,600. Purchases of direct materials: December 2021, $118,000. Other receipts: January-Collection of December 31, 2021, notes receivable $17,700; February-Proceeds from sale of securities $7,080. Other disbursements: February-Payment of $7,080 cash dividend. 88,500 The company's cash balance on January 1, 2022, is expected to be $70,000. The company wants to maintain a minimum cach balance of $59.000. January 100,300 Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February. CORONADO COMPANY Schedule of Expected Collections from Customers For the Two Months Ending February 28, 2022 S February

Coronado Company prepares monthly cash budaets. Pelevant data from coseratinz budeats for 2022 are as follond. and administrative expenses that indude $1,160 of depreciation per month. Other data: 3. Ouhar receipts: Januan-Coilection of Descmbur 31,2021 notas recuivabie $17,700 : of 559000 . Aanaryand fabrant