question 4 urgent Lorch company

Current Attempt in Progress Waterway Company prepures monthly cash budgets. Relevant data from operating budgets for 2023 are as follows: All sales are on account. Waterway expects collection to be 50% in the month of sale, 40x in the first month following the sale, and 105 in the second month following the sale. It pays 30% of direct materials purchases in cash in the month of purchase and the bafance die in the month fallowing the purchase. All sales are on account. Waterway 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 pychase and the balance due in the month following the purchase. The company expects its cash balance on January 1,2023 , to be $51,000. It wants to maintain a minimum cash balance of $40,000. Prepare schedules for (1) the expected collections from customers. (2) the expected payments for direct materials purchases. (2) the expected payments for direct materials purchases. Prepure a cash budeet for Janoary and Februarvining columtrs for each mockh