Nanhoe Company's budgeted sales and direct materials purchases are as follows Budgeted Sales Budgeted DM Purchases January $216.000 $32400 February 237,600 38 600 March 270.000 41.600 Ivanhoe's sales are 30% cash and 70% credit Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale: 4% are uncollectible. Ivanhoe's purchases are 50% cash and 50% on account. Purchases on account are paid 40s in the month of purchase and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March S (a) Prepare a schedule of expected collections from customers for March IVANHOE COMPANY Expected Collections from Customers March March cash sales $ January cash sales