Assignments > Chapter 22 HOMEWORK HOMEWORK Points 12 Submitting an external tool Attempts 0 Allowed Attempts 1 Available until Apr 25 at 11pm JS Kimmel, Accounting, 7e CALCULATOR PRINTER VERSION BACK NEXT Exercise 22-17 Nieto Company's 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 Nieto's 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 sele; 4% are uncollectible. Nieto's 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. Prepare a schedule of expected collections from customers for March NIETO COMPANY Expected Collections from Customers March Total collections (b) Prepare a schedule of expected payments for direct materials for March. NIETO COMPANY Expected Payments for Direct Materials March Total payments Click If you would like to Show Work for this question: Open Show Work MacBook Air F4 F5 F6 2