Exercise 13-18 Cheyenne 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 a cash payments schedule. To that end the following information has been collected. Clients usuely per 60% of their fee in the month that service is performed, 30 the month after, end 10% the second onth after receiving service. Actual service revenue for 2016 and expected service revenues for 2017 are November 2016, $01,600 December 2016, $82,770; anuary 2017, $101,030; February 2017, $121,930; March 2017, $134,300 Purchases of landscaping supplies direct metenals are p 0% n the month o purchase and 40 the folowing month. Actual purchases for 2016 and expected purchases or 2017 are December 2016 513 090;anuary 2017 $17,410; February 2017, $20,720; March 2017, $21,570 Prepare the follawing schedules for each month in the first quarter of 2017 and for the quarter in total: (1) Expected collections from clients. EYENNE LANDSCAPINGI Schedule ol Expected Collections From Clients January february March Quarter December enusry february March Total collecticns s (2) Expected payments for landscaping suppies EYENNE LANNDSCAPING INC Schedule of Expected Payments for Landscaping Supplies January February March Total payments Determine the following balanoes at March 31, 2017 (1) Accounts receivable (2) Acoounts payable