CALCULATOR PRINTER VERSION 4 RAR NERT Exercise 13-15 Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepare a cash receipts schedule and 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 2016 and expected service revenues for 2017 are November 2016, 550,000: December 2016, $90,000, January 2017, 5100,000; February 2017 $120,000: March 2017. $140,000 Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and the following month. Actual purchases for 2016 and expected purchases for 2017 are December 2016, $14,000, January 2017, $12,000: February 2017. $15,000; March 2017. $18,000. Your answer is correct