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Blue Spruce Landscaping Inc. is preparing its budget for the first quarter of 2022 . The next step is to prepare a cash receipts schechile
Blue Spruce Landscaping Inc. is preparing its budget for the first quarter of 2022 . The next step is to prepare a cash receipts schechile 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 serond month after receiving the service. 2. Actual service revenues for 2021 and expected service revenues for 2022 are as follows: November 2021,592,000 : December 2021,\$70,000; January 2022, \$112,000; February 2022, \$119,000; and March 2022, \$132,000. 3. The company pays for purchases of landscaping supplies (direct materiats) 60x in the month of purchase and 400 the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021, 513.000 : lanuary 2022,513,000: February 2022, \$16,000; and March 2022.,\$19,000. (a) Your answer is correct. Prepare the following schedules for each month in the furst quarter of 2022 and for the quarter in total, (1) Schedule of expected collections from clients. Determine the following balances at March 31, 2022
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