Martinez Company's budgeted sales and direct materials (DM) purchases are as follows. Martinez's 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. Martinez's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of the purchase and 60% in the month following the purchase. Prepare a schedule of budgeted cash receipts from customers for March. MARTINEZCOMPANY Budgeted Cash Receipts from Customers March March Cash Sales $ Collection of March Credit Sales Collection of February Credit Sales Collection of January Credit Sales Budgeted cash receipts