Sheridan 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 2021,891,200, December 2021. $102,600; January 2022, $114,000; February 2022, $136,800; and March 2022 $159,600. 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, $15,960; January 2022, $13,680; February 2022, $17,100; and March 2022. $20,520. (a) Prepare the following schedules for each month in the first quarter of 2022 and for the quarter in total: (1) Expected collections from clients (1) Expected collections from clients SHERIDAN LANDSCAPING INC. Schedule of Expected Collections From Clients January February March Quarter November December I January February March $ $ Total collections $ SHERIDAN LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies January February March Quarter December $ January February March Total payments $ $ $ (b) Determine the following balances at March 31, 2022: (1) $ Accounts receivable (2) Accounts payable $