Nieto Company's budgeted sales and direct materials purchases are as follows. Nicto's saies are 3086 cach 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 sple. 426 are uncollectible. Nieto's purchases are 5086 cash and 5005 on account. Purchases on arcount are pald 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. Fieto's sales are 3085 cash and 70x credit. Credit sales are collected 10 sin the month of cife, 50s in the morith following sale and 36%5 in the second month following sale, 4% are euncollectible. Nieto's purchases are 50% cish and 503 on account. Purchases on account are paid 40% in the month of purchase, and 603s in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. Prepare a schedule of expected payments for direct materlals for Manch