Question 3 of 16 View Policies Current Attempt in Progress Paddu Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $140,800; February $189.800; March $250,800 Budgeted direct materials purchases: January $40.200: February $34,700: March $39.900 -16 1 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 Fabace March