URGENT Paddu Companys budgeted sales and direct materials purchases follow. January was the first month of operations.

Budgeted sales: January $140,600; February $191,800; March $252,000 Budgeted direct materials purchases: January $40,100; February $35,300; March $40,100 Paddus sales are 35% cash and 65% credit. It collects credit sales 40% in the month of sale, 60% in the month following the sale. Paddus 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 January February March Collections: Cash sales $ $ $ Collections of credit sales: January sales February sales March sales Total collections $ $ $ Prepare a schedule of expected payments for direct materials for January, February and March.

Paddu Company Expected Payments January February March Payments: Cash purchases $ $ $ Payment of credit purchases: January purchases February purchases March purchases Total payments $ $ $