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Business, 26.11.2019 22:31 drcarver

Nieto company's budgeted sales and direct materials purchases are as follows. budgeted sales budgeted d. m. purchases january $200,000 $30,000 february 220,000 36,000 march 250,000 38,000 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 sale; 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.

instructions
(a) prepare a schedule of expected collections from customers for march.
(b) prepare a schedule of expected payments for direct materials for march

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