Question: Current Attempt in Progress Sheffeld Landscaping Inc. is preparing its budget for the first quarter of 2025. The next step in the budgeting process is

for the first quarter of 2025. 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

Current Attempt in Progress Sheffeld Landscaping Inc. is preparing its budget for the first quarter of 2025. 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 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service; Actual service revenue for 2024 and expected service revenues for 2025 are November 2024, $100,800; December 2024, $113,400; January 2025, \$126,000: February 2025, \$151,200; and March 2025, \$176,400. Purchases of landscaping supplies (direct materials) are paid 608 in the month of purchase and 406 the following month. Actual purchases for 2024 and expected purchases for 2025 are December 2024, \$17,640; January 2025, \$15,120; February 2025, \$18,900; and March 2025, $22,680 (a) Prepare the following schedules for each month in the first quarter of 2025 and for the quarter in total: (1) Expected collections from clients. SHEFFIELD LANDSCAPING INC. Schedule of Expected Collections From Clients (2) Expected payments for landscaping supplies. Determine the following balances at March 31, 2025 : (1) Accounts receivable $ (2) Accounts payable $

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