please prepare expected collection from customers and expected payments for direct materials purchase for this question.

Lorch Company prepares monthly cash budgets. Relevant data from operating budgets for 2021 are as follows: ryFebruarv 121,000 111,000 113,000 Sales Direct materials purchases Direct labour Manufacturing overhead Selling and administrative expenses $350,000 85,000 60,000 74,000 $401,000 76,000 79,000 All sales are on account. Lorch expects collections to be 50% in the month of sale, 40% in the first month following the sale, and 10% in the second month following the sale. It pays 30% of direct materials purchases in cash in the month of purchase and the balance due in the month following the purchase. Other data are as follows: 1. credit sales: November 2020, $199,000; December 2020, $278,000 2. Purchases of direct materials: December 2020, $90,000 3. Other receipts: Januarycollection of December 31, 2020, notes receivable $4,000; Februaryproceeds from sale of securities $6,000 4. Other disbursements: Februarypayment of $20,000 for land The company expects its cash balance on January 1, 2021, to be $49,000. It wants to maintain a minimum cash balance of $39,000.