Environmental Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step...

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Environmental Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step is to prepare a cash receipts schedule and a cash payments schedule. The following information has been collected: 1 2. 3. Clients usually pay 50% of their fee in the month when the service is provided, 40% the next month, and 10% in the second month after receiving the service. Actual service revenues for 2019 and expected service revenues for 2020 are as follows: November 2019, $92,000; December 2019, $70,000; January 2020, $112,000; February 2020, $119,000; and March 2020, $132,000. The company pays for purchases of landscaping supplies (direct materials) 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are: December 2019. $13,000; January 2020, $13,000; February 2020, $16,000; and March 2020, $19,000. Environmental Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step is to prepare a cash receipts schedule and a cash payments schedule. The following information has been collected: 1 2. 3. Clients usually pay 50% of their fee in the month when the service is provided, 40% the next month, and 10% in the second month after receiving the service. Actual service revenues for 2019 and expected service revenues for 2020 are as follows: November 2019, $92,000; December 2019, $70,000; January 2020, $112,000; February 2020, $119,000; and March 2020, $132,000. The company pays for purchases of landscaping supplies (direct materials) 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are: December 2019. $13,000; January 2020, $13,000; February 2020, $16,000; and March 2020, $19,000.