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Current Attempt in Progress Swifty Company's budgeted sales and direct materials purchases are as followe....

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Accounting

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Current Attempt in Progress Swifty Company's budgeted sales and direct materials purchases are as followe. Swifty's sales are 30% cash and 70% cred L. Credit sales are collected 10% in the month of sale, 50% in the manth following sale, and 36% in the recond month following sale: 4% are uncollectible. Swifty's purchases are So2l cash and 50% on account, Purchases on account are pald 40\% in the month of purchase, and 604 in the month following purchase. (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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