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 preformed, 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, $92,440; December 2019, $83,270; January 2020, $103,690; February 2020, $122,440; and March 2020, $134,410.

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, $16,270; January 2020, $15,270; February 2020, $18,730; and March 2020, $21,600.

(A) Prepare the following schedules for each month in the first quarter of 2020 and for the quarter in total.

(B) determine the following balances at March 31st, 2020:

1. Accounts receivable $_______
2. Accounts Payable $________

(2) Expected payments for landscaping supplies