Moorcroft Company's budgeted sales and direct materials purchases are as follows: April May June Budgeted Sales $276,000 327,000 357.000 Budgeted D.M. Purchases $42.000 52,000 65,000 Moorcroft's 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. Moorcroft's 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. Prepare a schedule of expected collections from customers for June. Moorcroft Company Schedule of Expected Collections from Customers April May Sales June 276.000 143,520 82,800 $ 43,056 327,000 i 170,040 98,100 357.000 185,640 143,520 $ 252,840 $ 326,796 Prepare a schedule of expected payments for direct materials for June. Moorcroft Company Schedule of Expected Payment for Direct Materials April May Purchases June $ $ pril lay ine $ tal ollections