NIU Company's budgeted sales and direct materials purchases are as follows:

Budgeted Sales Budgeted Direct

Materials Purchases

January $194,000 $28,000

February 199,000 33,000

March 277,000 46,000

NIU's sales are 40% cash and 60% credit. It collects credit sales 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. It pays purchases on account 60% in the month of purchase, and 40% in the month following purchase.

Prepare a schedule of expected collections from customers for March.

NIU COMPANY

Schedule of Expected Collections from Customers

For the Month Ending March 31, 2020

Januarycredit sales $______________

Februarycredit sales $______________

Marchcash sales $_____________

Marchcredit sales $________________

Total expected collections from customers $______________

Prepare a schedule of expected payments for direct materials for March.

NIU COMPANY

Schedule of Expected Payments for Direct Materials

For the Month Ending March 31, 2020

Februarycredit payments $___________________

Marchcash payments $___________________

Marchcredit payments $ _________________

Total expected payments $___________________