Nieto Companys budgeted sales and direct materials purchases are as follows.

		Budgeted Sales		Budgeted D.M. Purchases
January		$237,000		$33,500
February		230,100		38,900
March		329,800		38,300

Nietos 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. Nietos purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March.

NIETO COMPANY Expected Collections from Customers
		March
select an item January cash salesMarch cash purchasesCollection of February credit salesCollection of March credit salesFebruary cash salesCollection of January credit salesPayment of March credit purchasesMarch cash salesPayment of February credit purchases		$enter a dollar amount
select an item Collection of February credit salesMarch cash salesCollection of March credit salesMarch cash purchasesPayment of February credit purchasesFebruary cash salesJanuary cash salesPayment of March credit purchasesCollection of January credit sales		enter a dollar amount
select an item Collection of March credit salesMarch cash purchasesPayment of March credit purchasesPayment of February credit purchasesJanuary cash salesFebruary cash salesCollection of February credit salesMarch cash salesCollection of January credit sales		enter a dollar amount
select an item March cash purchasesCollection of February credit salesFebruary cash salesPayment of March credit purchasesCollection of January credit salesJanuary cash salesCollection of March credit salesPayment of February credit purchasesMarch cash sales		enter a dollar amount
Total collections		$enter a total amount

(b) Prepare a schedule of expected payments for direct materials for March.

NIETO COMPANY Expected Payments for Direct Materials
		March
select an item January cash salesMarch cash purchasesCollection of January credit salesCollection of March credit salesPayment of March credit purchasesMarch cash salesFebruary cash salesPayment of February credit purchasesCollection of February credit sales		$enter a dollar amount
select an item Collection of January credit salesCollection of February credit salesPayment of March credit purchasesFebruary cash salesMarch cash salesPayment of February credit purchasesMarch cash purchasesCollection of March credit salesJanuary cash sales		enter a dollar amount
select an item Payment of February credit purchasesCollection of January credit salesJanuary cash salesFebruary cash salesPayment of March credit purchasesCollection of March credit salesMarch cash salesCollection of February credit salesMarch cash purchases		enter a dollar amount
Total payments		$enter a total amount