Exercise 9-18 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 105 the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November 2019, 593,200: December 2019, $84,640; January 2020, $104,020; February 2020, 5122,030, and March 2020, $132,570. 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, $15,800: January 2020, $13,490February 2020, $17,080, and March 2020, $23,050. (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. GREEN LANDSCAPING INC. Schedule of Expected Collections From Clients For the Quarter Ending March 31, 2020 January February March Quarter November $ 9320 $ 9320 $ December 5464 January 10402 February March Total collections (2) Expected payments for landscaping supplies GREEN LANDSCAPING INC Schedule of Expected Payments for Landscaping Supplies January February March Quarter December $ January February March Total payments (b) Determine the following balances at March 31, 2020: (1) Accounts receivable $ (2) Accounts payable Click if you would like to Show Work for this question Open Show Work