a cash schedde. To that end the following information has been collected elActua

Question

a cash schedde. To that end the following information has been collected elActual service reverse for 2016 and expected service revenues for 2017 are November 2016, $94,290; December 2016, $83,720; January 2017, $104,810; February 2017, 122,860; March 2017, $133,740 Purchases of landscaping suries direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2016 and expected purchases for 2017 are December 2016, $16,190; January 2017, $13,080; February 2017, $17,510, March 2017, $21,410 Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total from dients Decembe February

Explanation / Answer

EXPECTED CASH COLLECTIONS Jan Feb March QUARTER November 9,429 9,429 December 25,116 8372 33,488 january 62886 31443 10481 104,810 Febuary 73,716 36,858 110,574 March 80244 80,244 Total Cash Collections 97,431 113,531 127,583 338,545 EXPECTED CASH PAYMENTS Jan Feb March Quarter December 6,476 6,476 January 7848 5232 13,080 Febuary 10506 7004 17,510 March 12846 12,846 Total Cash disbursement 14,324 15,738 19,850 49,912 Accounts receivable (Mar 31 ) Feb sales (122860*10%) 12286 March sales (133740*40%) 53496 Total Accounts receivable 65782 Accounts Payable (mar31) March sales (21410*40%) 8564 Total Accounts payable 8564

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