Moorcroft Companys budgeted sales and direct materials purchases are as follows:

		Budgeted Sales		Budgeted D.M. Purchases
April		$293,000		$46,000
May		343,000		58,000
June		386,000		65,000

Moorcrofts sales are 40% cash and 60% credit. Credit sales are collected 20% in the month of sale, 50% in the month following sale, and 26% in the second month following sale; 4% are uncollectible. Moorcrofts purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month following the purchase and 60% in the second month following the purchase.

(a)

Prepare a schedule of expected collections from customers for June.

Moorcroft Company Schedule of Expected Collections from Customers
		Sales		April		May		June
April		$		$		$		$
May
June
Total Collections				$		$		$