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E View Policies Current Attempt In Progress Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in
E View Policies Current Attempt In Progress Green Landscaping Inc. is preparing its budget for the first quarter of 2020. 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 2019 and expected service revenues for 2020 are November 2019. $94,500; December 2019, $84,030, January 2020, $102,010 February 2020, $123,980; and March 2020, 5134,410 Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are December 2019. $15,050, January 2020, $17,910: February 2020. $19.580; and March 2020, $21,620. (a) Prepare the following schedules for each month in the first quarter of 2020 and for the quarter in total: (1) Expected collections from clients January GREEN LANDSCAPING INC. Schedule of Expected Collections From Clients February March Quai
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