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prepare a schedules of expected payments Prepare a schedules of expected payments for landscaping supplies for each month in the first quarter of 2022 and
prepare a schedules of expected payments
Prepare a schedules of expected payments for landscaping supplies for each month in the first quarter of 2022 and for the quarter in total. (Do not leave any answer field blank, Enter 0 for amounts.) Flounder Landscaping Company is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare cashreceipts and cash payments schedules. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is provided, 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,$130,000; December 2021, \$109,000: January 2022, \$148,000; February 2022, \$156,000; March 2022, \$176,000. Purchases of landscaping supplies are paid 30% in the month of purchase and 70% the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021, $21,500; January 2022, $19,600; February 2022, $23,400;9 arch 2022, $26,700. FLOUNDERLANDSCAPING COMPANY Schedule of Expected Collections From Clients For the Year Ending March 31, 2022 Step by Step Solution
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