Wildhorse Companys budgeted sales and direct materials purchases are as follows.

		Budgeted Sales		Budgeted D.M. Purchases
January		$274,000		$37,200
February		244,200		38,100
March		261,800		40,200

Wildhorses sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Wildhorses purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March.

Prepare a schedule of expected collections from customers for March. WILDHORSE COMPANY Expected Collections from Customers March $ Total collections GA $ (b) Prepare a schedule of expected payments for direct materials for March. WILDHORSE COMPANY Expected Payments for Direct Materials March $ Total payments $ $