Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales January $251,000 February 238,100 March 299,600 $32,200 45,300 38,300 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; 4% are uncollectible. Nieto's 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 Collection of March credit sales $ January cash sales February cash sales March cash sales Total collections March 89880 63252 83335 20972 $ 257439