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Your wais partially corred. Try again. Green Landscaping Inc. to preparing its budget for the first quarter of 2020. The next step in the budgeting
Your wais partially corred. Try again. Green Landscaping Inc. to 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 payment schedule. To that and the following information has been collected. Chenausually 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 services for 2019 and expected service is for 2020 are November 2019,529,620 December 2019, 582,630; January 2020, $102,120 February 2020, $122,950; and March 2020, $133,630. Purchases of landscaping supplies (dired materials) are paid 60% in the month of purchase and the faining month. Actual purchases for 2019 and expected purchases for 2020 are December 2019, $16,410; January 2020, $13.540, Fabruary 2020, 518,970; and March 2020, 523,150. Prepare the following schedules for each month in the last quarter of 2020 and for the quarter in total (1) Expected collections from chints GREEN LANDSCAPING INC. Schedule of Expected Collections From Clients For the Quirlar Ending March 31, 2020 January February March Quarter November 9362 De 25089 8363 33252 M January 13540 February 11.382 1897 13279 March 13800 13800 Total collections 17141 83596 (2) Expected payments for landscaping Supplies GREEN LANDSCAPING INC Schedule of Expected Payments for Landscaping Supplies For the Qurtar Ending March 31, 2020 V January February March Quarter De 6554 January 8124 5416 13540 February 1132 7588 18020 March 13890 Total payments 1458 21478 52954 (b) Delamine the following balances al March 31, 2020: (1) Accounts receivable (2) Accounts payable 9260
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