Moorcroft Company's budgeted sales and direct materials purchases are as follows: Budgeted Sales Budgeted D.M. Purchases April $281,000 $46,000 May 343,000 52,000 June 396,000 62,000 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 Sales April May April $ 281000 $ 146120 $ 84300 $ May 343000 178360 102900 June 396000 205920 118800 Total Collections $ 530400 $ 306000 $ Moorcroft Company Schedule of Expected Collections from Customers Sales April May June 281000 $ 146120 $ 84300 $ 43836 343000 178360 102900 53508 396000 205920 118800 61776 JU! $ 530400 $ 306000 $ 159120