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URGENT, THIS IS THE SECOND TIME POSTING THE QUESTION AFTER WAITING MORE THAN 9 HOURS. Sweet Acacia Company's budgeted sales and direct materials purchases are

URGENT, THIS IS THE SECOND TIME POSTING THE QUESTION AFTER WAITING MORE THAN 9 HOURS.

Sweet Acacia Company's budgeted sales and direct materials purchases are as follows:

Budgeted Sales

Budgeted Direct Materials Purchases

January

$194,000 $28,000

February

199,000 33,000

March

277,000 46,000

Sweet Acacia's sales are 40% cash and 60% credit. It collects credit sales 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Sweet Acacia's purchases are 50% cash and 50% 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 from customers for March.

NIU COMPANY Schedule of Expected Collections from Customers For the Month Ending March 31, 2020
Januarycredit sales $
Februarycredit sales
Marchcash sales
Marchcredit sales
Total expected collections from customers $

Prepare a schedule of expected payments for direct materials for March.

NIU COMPANY Schedule of Expected Payments for Direct Materials For the Month Ending March 31, 2020
Februarycredit payments $
Marchcash payments
Marchcredit payments
Total expected payments $

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