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Current Attempt in Progress Coronado Landscaping inc. is preparing its budget for the first quarter of 2022. The next step in the budgeting process is

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Current Attempt in Progress Coronado 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. Chents 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, $73,600; December 2021, $82,800; January 202,2, \$92,000; February 2022, \$110,400; and March 2022, $128,800. Purchises of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchawes for 2022 are December 2021,\$12,880; January 2022,\$11,040; February 2022, \$13,800: and March 2022, $16,560. (a) Prepare the following schedules for eachmonth in the first quarter or 2022 and for the quarter in total: Prepare the following schedules for each month in the first quarter of 2022 and for the quarter in total: (1) Expected collections from clients. (2) Expected payments for landxcapingsupplies. (2) Expected payments for landscaping supplies. Determine the following balances at March 31, 2022 : (1) Accounts receivable $ (2) Accounts payable $

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