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

		Budgeted Sales		Budgeted D.M. Purchases
January		$274,000		$37,200
February		244,200		38,100
March		261,800		40,200

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 Collection of February credit salesJanuary cash salesFebruary cash salesMarch cash purchasesPayment of March credit purchasesPayment of February credit purchasesCollection of January credit salesMarch cash salesCollection of March credit sales		$enter a dollar amount
select an item Collection of January credit salesCollection of March credit salesMarch cash purchasesFebruary cash salesCollection of February credit salesMarch cash salesJanuary cash salesPayment of March credit purchasesPayment of February credit purchases		enter a dollar amount
select an item Collection of March credit salesPayment of February credit purchasesMarch cash purchasesCollection of February credit salesPayment of March credit purchasesMarch cash salesCollection of January credit salesFebruary cash salesJanuary cash sales		enter a dollar amount
select an item March cash purchasesJanuary cash salesCollection of January credit salesFebruary cash salesCollection of February credit salesPayment of March credit purchasesMarch cash salesPayment of February credit purchasesCollection of March credit 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 Payment of March credit purchasesJanuary cash salesMarch cash salesPayment of February credit purchasesCollection of March credit salesCollection of February credit salesCollection of January credit salesFebruary cash salesMarch cash purchases		$enter a dollar amount
select an item Payment of March credit purchasesPayment of February credit purchasesMarch cash salesCollection of March credit salesCollection of February credit salesFebruary cash salesJanuary cash salesMarch cash purchasesCollection of January credit sales		enter a dollar amount
select an item Payment of March credit purchasesCollection of February credit salesCollection of January credit salesFebruary cash salesCollection of March credit salesJanuary cash salesMarch cash purchasesPayment of February credit purchasesMarch cash sales		enter a dollar amount
Total payments		$enter a total amount