Nieto Company's budgeted sales and direct materials purchases are as follows Budgeted Sales Budgeted DM Purchases January $278.000 February 307,100 $39.600 42.900 42.000 March 283.600 Nieto'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, 4X are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase and box in the month following purchase Prepare a schedule of expected collections from customers for March NIETO COMPANY Expected Collections from Customers Total collections Prepare a schedule of expected payments for direct materials for March. NIETO COMPANY Expected Payments for Direct Materials March Total payments Save for Later