Business, 24.03.2020 21:38 asdasddas776

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, $94,040; December 2019, $83,200; January 2020, $103,960; February 2020, $123,060; and March 2020, $131,040. 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, $18,410; January 2020, $17,530; February 2020, $19,940; and March 2020, $20,750. (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.

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Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the b...

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