NIU Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $220,000 $33,000 February 242,000 38,500 March 297,000 45,100 NIU's sales are 40% cash and 60% 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. NIU'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. Prepare a schedule of expected collections from customers for March. NIU COMPANY Expected Collections from Customers March March cash sales $ Collection of March credit sales Collection of February credit sales Collection of January credit sales Total collections $ Prepare a schedule of expected payments for direct materials for March. NIU COMPANY Expected Payments for Direct Materials March March cash purchases $ Payment of March credit purchases Payment of February credit purchases Total payments $