Bonita Landscaping Inc. is preparing its budget for the first quarter of 2022. The next step in the budgeting process is

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Bonita 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, $92,800; December 2021, $104,400; January
2022, $116,000; February 2022, $139,200; and March 2022,
$162,400.

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, $16,240; January 2022, $13,920; February 2022, $17,400; and
March 2022, $20,880.

(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.
BONITA LANDSCAPING INC.
Schedule of Expected Collections From Clients
choose the accounting period



March 31, 2022For the Quarter
Ending March 31, 2022For the Year Ending March 31, 2022
January
February
March
Quarter
November
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
December
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
January
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
February
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
March
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
Total collections
$enter a total amount
$enter a total amount
$enter a total amount
$enter a total amount
(2) Expected payments for landscaping
supplies.
BONITA LANDSCAPING INC.
Schedule of Expected Payments for Landscaping
Supplies
choose the accounting period



March 31, 2022For the Quarter
Ending March 31, 2022For the Year Ending March 31, 2022
January
February
March
Quarter
December
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
January
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
February
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
March
enter a dollar amount
enter a dollar amount
enter a dollar amount
enter a dollar amount
Total payments
$enter a total amount
$enter a total amount
$enter a total amount
$enter a total amount
(b)

Determine the following balances at March 31, 2022:
(1)
Accounts receivable
$enter a dollar amount
(2)
Accounts payable
$enter a dollar amount