Question 3 OT 16 - 70 = Paddu Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $141.200, February $183,100; March $252,300 Budgeted direct materials purchases: January $39,700; February $34,800; March $40,000 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 February January March Collections: Cash sales Collections of credit sales: January sales February sales March sales Question 3 OT 16 - = March sales Total collections Prepare a schedule of expected payments for direct materials for January, February and March. a Paddu Company Expected Payments February January March Payments: $ Cash purchases Payment of credit purchases January purchases II February purchases March purchases $ Total payments Save for Later Attempts:0 of 1 used Submit