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2. Jo-Jo’s Yo-yos has the following budgeted sales and directmaterials purchases:Month Budgeted Sales Budgeted direct materials purchasesJanuary $190,000 $30,000February $210,000 $35,000March $300,000 $45,000Jo-Jo’s Yo-yos’ sales are 40% cash and 60% on credit. Itcollects credit sales 10% in the month of the sale, 50% in themonth following the sale, and 36% in the second month following thesale. 4% of the sales are uncollectible.Jo-Jo’s Yo-yos’ purchases are 50% cash and 50% on account. Itpays on account 60% in the month of the purchase and 40% in themonth following the purchase.a. Prepare a schedule of expected cash collections forMarch.March cash sales,March credit sales collections,January credit sales collections,February credit sales collections,Total cash collections.a. Prepare a schedule of expected cash payments for directmaterials for March.March cash purchases,March credit purchases paid,February credit purchases paid,Total cash collections.