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WEAT Exercise 13-18 (Part Level Submission) Sarasota 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, 594,060; December 2016, $82,800, January 2017, $102,130; February 2017, 5122,810; March 2017. $133,630 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, $16,500; January 2017, $15,550; February 2017, $16,970; March 2017, $19,770. (a) Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total: (1) Expected collections from clients. SARASOTA LANDSCAPING INC. Schedule of Expected Collections From Clients January February March Quarter November $ $ December January February March Vers on 4.24 February March Total collections $ S (2) Expected payments for landscaping supplies. SARASOTA LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies January February March Quarter December $ $ January February March $ Total payments $ SAVE FOR LATER SUBMIT AV