Windsor Company's budgeted sales and direct materials purchases follow. January was the first month of operations....

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Windsor Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $139,000; February $191,200; March $251,600 Budgeted direct materials purchases: January $40,100; February $34,800; March $40,300 Windsor'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. Windsor'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. Windsor Company Expected Collections Collections: Cash sales Collections of credit sales: January sales February sales March sales $ January $ February March Total collections $ $ $ Windsor Company's budgeted sales and direct materials purchases follow. January was the first month of operations. Budgeted sales: January $139,000; February $191,200; March $251,600 Budgeted direct materials purchases: January $40,100; February $34,800; March $40,300 Windsor'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. Windsor'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. Windsor Company Expected Collections Collections: Cash sales Collections of credit sales: January sales February sales March sales $ January $ February March Total collections $ $ $