Exercise 13-18 Grouper 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 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 2016 and expected service revenues for 2017 are November 2016, $94,350, December 2016, $84,980; January 2017, $103,740; February 2017, $123,390; March 2017, $134,200. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2016 and expected purchases for 2017 are December 2016, $15,280; January 2017, $15,900; February 2017, $16,070; March 2017, $20,860. El your answer is partially correct. Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total: (1) Expected collections from dients. GROUPER LANDSCAPING INC. Schedule of Expected Collections From Clients For the Quarter Ending March 31, 2017 January February March Quarter November 9435 9435 December 25494 8498 33992 January 62244 31122 10374 103740 February 74034 37017 111051 March BOS20 80520 97173 Total collections 113654 338738 127911 (2) Expected payments for landscaping supplies. GROUPER LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies For the Quarter Ending March 31, 2017 GROUPER LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies For the quarter Ending March 31, 2017 January February March Quarter December 9168 9168 January 6360 9540 15900 February 6428 9642 16070 March 8344 8344 Total payments 15528 15968 17986 49482 Your answer is partially correct. Determine the following balances at March 31, 2017: (1) Accounts receivable 66019 (2) Accounts payable 12516 Student did not submit Show Work for this attempt