Question: Current Attempt in Progress Green Landscaping Inc, is preparing its budget for the first quarter of 2022 . The next step in the budgeting process



Current Attempt in Progress Green Landscaping Inc, is preparing its budget for the first quarter of 2022 . The next step in the budgeting process is to prepare a cash) receipts schedule and a cash payments schedule. To that end, the following information has been collected. Clients usually pay 605 of their fee in the month that service is performed, 30% the month after, and 10s the second month receiving service. Actual service revenue for 2021 and expected service revenues for 2022 are November 2021, $80,000, December 2021. $90,000; January 2022, $100,000; February 2022.,\$120.000; and March 2022, \$140,000. Purchases of landscaping supplies (direct materials) are paid 60 in the month of purchase and 4005 the follow' month, Actual purchases for 2021 and expected purchases for 2022 are December 2021, $14,000 : January 2022, 512,000 ; February 2022, 515,000 ; and March 2022, \$18,000. (a) Prepare the following schedules for each month in the first quarter of 2022 and for the quarter in total: (1) Expected collections from clients. Prepare the following schedules for each month in the first quarter of 2022 and for the quarter in total: (1) Expected colfections from clients. (2) Expected payments for landscaping supplies. GREEN LANDSCAPING INC. Schedule of Expected Payments for Landocaping Supplies \begin{tabular}{ll} & \multicolumn{2}{c|}{ January } \\ December $ \\ January & \\ February & \\ \hline \end{tabular} (b) Determine the tollowing balances at March 31, 2022 (1) Accounts recelvable (2) Accounts payabie 5
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