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Your answer is partially correct. Try again. Nieto Company's budgeted sales and direct materials purchases...

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Your answer is partially correct. Try again. Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted sales Budgeted D.M. dy Purchases January February March $237,300 230,100 329,800 33,500 38,900 38,300 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 themonth following purchase

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