Moorcroft Company's budgeted sales and direct materials purchases are as follows: April May June Budgeted Sales Budgeted D.M. Purchases $322,000 $50,000 289,000 52.000 365,000 66,000 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 (a) Your answer is partially correct. Prepare a schedule of expected collections from customers for June Sales Moorcroft Company Schedule of Expected Collections from Customers April May 322000 $ 12800000 $ June April $ $ May 257000 11560000 June 365000 14500000 Total Collections $ 39040000 $