Paddu Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $140,300; February $190,700; March $250,500 Budgeted direct materials purchases: January $40,000; February $35,100; March $39,700 Paddu's sales are 35% cash and 65% credit. It collects credit sales 40% in the month of sale, 60% in the month following the sale. Paddu's purchases are 40% cash and 60% 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 for January, February, and March. Paddu Company Expected Collections Collections: Cash sales January February March