Vaughn Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $139,500; February $191,300; March $252,000 Budgeted direct materials purchases: January $40,400; February $35,200; March $39,800 Vaughn'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. Vaughn'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. Collections: Cash sales Collections of credit sales: $ tA January Vaughn Company Expected Collections February $ March

Frepare a scherfule of expected collections for January, FebruaFy and March