Paddu Companys budgeted sales and direct materials purchases follow. January was the first month of operations.

Budgeted Sales:

January $145,000; February $188,000; March $250,000

Budgeted Direct Materials Purchases:

January $40,500; February $36,300; March $44,800

Paddus sales are 40% cash and 60% credit. It collects credit sales 45% in the month of sale, 55% in the month following the sale.

Paddus purchases are 40% cash and 60% on account. It pays purchases on account 35% in the month of purchase, and 65% in the month following purchase.

Prepare a schedule of expected collections for January, February, and March

	jan	feb	march
collections:
Cash sales	$	$	$
collections of credit sales:
January Sales
Feb sales
March Sales
Total Sales	$	$	$