Moorcroft Company's budgeted sales and direct materials purchases are as follows Budgeted Sales Budgeted D.M.Purchases $47,000 49,000 62,000 April May June $301,000 301,000 397,000 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% n 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 June May April Sales April May June Total Collections