Question 2 of 3 -/30 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 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November 2019, $91,000; December 2019. $81,000; January 2020, $101,000; February 2020. $121,000; and March 2020, $131,000. 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.$15,000; January 2020,$13,000: February 2020.$16,000; and March 2020, $19.000. (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 clie For the Quarter Ending March 31, 2020 IN 30 W tv A x GREEN LANDSCAPING INC. Schedule of Expected Collections From Clients For the Quarter Ending March 31, 2020 February March January Quarter November $ December January February March Total collections 5 12) Expected payments for landscaping supplies GREEN LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies For the Quarter Endin March 31, 2020 February March January Quarter December MICROP G Search or type URL 21 D 5 6 7 00 9 O R. . Y 0 P G H K L V B N. M . GREEN LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies For the Quarter Ending March 31, 2020 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 e G Search or type URL 5 6 7 00 *R T . K L