Paddu Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted Sales: January $144,000; February $190,000; March $246,000 Budgeted Direct Materials Purchases: January $40,100; February $35,300; March $40,500 Paddu's sales are 40% cash and 60% credit. It collects credit sales 50% in the month of sale, 50% in the month following the sale. Paddu's purchases are 50% cash and 50% on account. It pays purchases on account 40% in the month of purchase, and 60% in the month following purchase. Prepare a schedule of expected collections for January, February, and March Paddu Company Expected Collections January February March Collections: Cash sales Collections of credit sales: January sales February sales March sales Total collections