Lily Landscaping Inc. is preparing its budget for the first quarter of 2022 . 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 2021 and expected service revenues for 2022 are November 2021, \$67,200; December 2021, \$75,600: January 2022,\$84,000; February 2022,\$100,800: and March 2022,\$117,600. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are December 2021, \$11,760; January 2022,\$10,080; February 2022, \$12,600: and March 2022, \$15,120 Determine the following balances at March 31, 2022: (1) Accounts receivable (2) Accounts payable