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Sunland Landscaping inc is preparing its budget for the first quarter of 2022. The next step is to prepare a cash receipts schedule and a

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Sunland Landscaping inc is preparing its budget for the first quarter of 2022. The next step is to prepare a cash receipts schedule and a cash payments schedule. The following information has been collected: 1. Clients usually pay 50% of their fee in the month when the service is provided. 40% the next month, and 10% in the second month after receiving the service. 2. Actual service revenues for 2021 and expected service revenues for 2022 are as follows: November 2021, $88,000; December 2021, \$69,000; January 2022, \$109,000; February 2022, \$119,000; and March 2022, \$129,000. 3. The company pays for purchases of landscaping supplies (direct materials) 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021, $14,000 : January 2022, \$12,000; February 2022, \$16,000, and March 2022,\$18,000

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