Concord 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 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 2021 and expected service revenues for 2022 are November 2021, $68,800; December 2021, $77,400; January 2022, $86,000; February 2022, $103,200; and March 2022, $120,400. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are December 2021, $12,040; January 2022, $10,320; February 2022, $12,900; and March 2022, $15,480. (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. CONCORD LANDSCAPING INC. Schedule of Expected Collections From Clients choose the accounting period For the Quarter Ending March 31, 2022 January February March Quarter November $enter a dollar amount 6,840 $enter a dollar amount $enter a dollar amount $enter a dollar amount December enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount January enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount February enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount March enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Total collections $enter a total dollar amount $enter a total dollar amount $enter a total dollar amount $enter a total dollar amount (2) Expected payments for landscaping supplies. CONCORD LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies choose the accounting period January February March Quarter December $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount January enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount February enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount March enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Total payments $enter a total dollar amount $enter a total dollar amount $enter a total dollar amount $enter a total dollar amount (b) Determine the following balances at March 31, 2022: (1) Accounts receivable $enter a dollar amount (2) Accounts payable $enter a dollar amount