Current Attempt in Progress Pharoah Landscaping Inc. is preparing its budget for the first quarter of $2022.$ The next step is to prepare a cash receipts schedule and a cash payments schedule. The following information has been collected: $1.$ Clients usually pay $50\%$ of their fee in the month when the service is provided, $40\%$ the next month, and $10\%$ in the second month after receiving the service. $2.$ Actual service revenues for $2021$ and expected service revenues for $2022$ are as follows: November $2021,$ $$91,000$; December $2021,\backslash$$$72,000$; January $2022,\backslash$$$111,000$; February $2022,\backslash$$$119,000$; and March $2022,\backslash$$$131,000.3.$ The company pays for purchases of landscaping supplies $($direct materials$)60\%$ in the month of purchase and $40\%$ the following month. Actual purchases for $2021$ and expected purchases for $2022$ are: December $2021,\backslash$$$15,000$; January $2022,$$$14,000$; February $2022,\backslash$$$16,000$; and March $2022,\backslash$$$20,000.$ determine the following balances at march $31,2022.$ accounts receivable $?,$ accounts pauable $?$

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To determine the balances of accounts receivable and accounts payable as of March $31,2022,$ we need to follow the information provided and calculate the cash receipts and cash payments for each month. Let's break down the calculations step by step.

Calculate Cash Receipts:

Clients usually pay $50\%$ of their fee in the month when the service is provided, $40\%$ the next month, and $10\%$ in the second month after receiving the service.

We have the expected service revenues for $2022$:

January $2022$: $$111,000$

February $2022$: $$119,000$

March $2022$: $$131,000$

For January $2022,$ the cash receipts will be $50\%$ of $$111,000,$ which is $$55,500.$ For February, it will be $40\%$ of $$111,000,$ which is $$44,400.$ For March, it will be $10\%$ of $$111,000,$ which is $$11,100.$

Calculate Cash Payments:

The company pays for purchases of landscaping supplies $($direct materials$)60\%$ in the month of purchase and $40\%$ the following month.

We have the expected purchases for $2022$:

January $2022$: $$14,000$

February $2022$: $$16,000$

March $2022$: $$20,000$

For January $2022,$ the cash payments will be $60\%$ of $$14,000,$ whulate the balances of accounts receivable and accounts