Whispering Winds 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 $2021,$ $$91,000$; December $2021,$ $$72,000$; January $2022,$ $$112,000$; February $2022,$ $$121,000$; and March $2022,$ $$133,000.$

$3.$ 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 $2021,$ $$13,000$; January $2022,$ $$14,000$; February $2022,$ $$13,000$; and March $2022,$ $$22,000.$

Your answer is correct.

Prepare the following schedules for each month in the first quarter of $2022$ and for the quarter in total.

$(1)$ Schedule of expected collections from clients.

WHISPERING WINDS LANDSCAPING INC.

For the Quarter Ending March $31,2022$

January February March Quarter

November

$enter a dollar amount

Correct answer $enter a dollar amount

Correct answer $enter a dollar amount

Correct answer $enter a dollar amount

Correct answer

December

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

January

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

February

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

March

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

Total collections

$enter a total amount

Correct answer $enter a total amount

Correct answer $enter a total amount

Correct answer $enter a total amount

Correct answer

$(2)$ Schedule of expected payments for landscaping supplies.

WHISPERING WINDS LANDSCAPING INC.

For the Quarter Ending March $31,2022$

January February March Quarter

December

$enter a dollar amount

Correct answer $enter a dollar amount

Correct answer $enter a dollar amount

Correct answer $enter a dollar amount

Correct answer

January

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

February

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

March

enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer enter a dollar amount

Correct answer

Total payments

$enter a total amount

Correct answer $enter a total amount

Correct answer $enter a total amount

Correct answer $enter a total amount

Correct answer

eTextbook and Media

Your answer is incorrect.

Determine the following balances at March $31,2022.$

Accounts receivable$---------------------------------------$

enter a dollar amount

Accounts payable$-----------------------------------------$

enter a dollar amount