Question

2) Expected payments for landscaping supplies. GREEN LANDSCAPING INC Schedule of Expected Payments for Landscaping Supplies January February March Quarter December January February March otal payments Determine the following balances at March 31,2020 1) Accounts receivable $ 2) Accounts payable $

Answer 1

GREEN LANDSCAPING INC. Schedule of Expected Collections From Clients For the Quarter Ending March 31, 2020 January February March Quarter November $ 93,200$ 9,3 20 25,392$ 62,412 $ December $ 84,640$ ant February $122,030 March 9,320 33,856 10,402 104,020 36,609 $ 109,827 79,542 336,565 8,464 31,206 $ 73,218 $ $ 104,020$ $ 132,570 79,542 $ 126,553 $ Total Collection$ 97,124 $112,888 $ GREEN LANDSCAPING INC. Schedule of Expected Payments for Landscaping Supplies For the Quarter Ending March 31, 2020 January February March Quarter December $ 15,800$ $13,490$ 6,320 8,094$ 6,320 13,490 17,080 13,830 50,720 5,396 10,248$ anual February $ 17,080 March 6,832$ 13,830 S 20,662 $ $ 23,050 Total Payments$ 14,414 $ 15,644 $ Accounts Receivable at March 31, 2020 Accounts Payable at March 31, 2020 Explanation ($122,030 X10%)+ ($132,570 X 40%) 65,231 ($23,050 X 40%)- $ 9,220 (a) (1) Schedule of Expected Collections From Clients 60% in the month of service, 30% in the month after, 10% in the second month. November December January February $ 93,200-60% of amount paid in the month of November 2019, 30% in the month of $ 84,640-60% of amount paid in the month of December 2019, 30% in the month of $ 104,020-60% of amount paid in the month of January 2020, 30% in the month of $ 1 22,030 .. 60% ofamount paid in the month of February 2020, 30% in the month of $ Decembrer 2019 and remaining 10% paid in the month of January 2020 January 2020 and remaining 10% paid in the month of February 2020 February 2020 and remaining 10% paid in the month of March 2020 March 2020 and remaining 10% paid in the month ofApril 2020 April 2020 and remaining 10% paid in the month of May 2020 . . . arc 132,570 .. 60% of amount paid in the month of March, 30% in the month of (a) (2) Schedule of Expected Payments for Landscaping Supplies 6096 in the month of purchase and 40% in the following month December $ $ $ $ 15,800-60% of amount paid in the month of December 2019, 40% in the month of 13,490-60% of amount paid in the month of January 2020, 40% in the month of 17,080 23,050-60% of amount paid in the month of March 2020, 40% in the month of January 2020. February 2020. March 2020 April 2020 . January . February .. 60% ofamount paid in the month of February 2020, 40% in the month of arc