Moorcroft Company's budgeted sales and direct materials purchases are as follows Budgeted Sales Budgeted D.M. Purchases $47,000 49,000 54,000 $316,000 347,000 403,000 May June 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 Sales May June April May June Total Collections