View Policies Current Attempt in Progress Lorch Compary prepares monthly cash budgets. Relevant data from operating budgets for 2021 are as follows: All sales are on account. Lorch expects collections to be 50% in the month of sale, 40% in the first month following the sale, and 10% in the second month following the sale. It pays 30% of direct materiaks purchases in cash in the month of purchase and the balance due in the month following the purchase Prepareschedules for (1) the expected collections from customers. Prepare schedules for (1) the expected collections from customers. (2) the expected payments for direct materials purchases. Picpare a conh bodget for lanuary and february osing columisis for each micnth