1 (25 marks) Use the following information which relates to ABC Limited to answer the questions which follow: Information: 1. Cash at bank on 1 January 2022 amounted to R100 000. 2. Projected sales for the first four months of 2022: January R200 000 February R400 000 March R700 000 April R800 000 Fifty per cent (50%) of the sales are for cash and fifty per cent (50%) are on credit. Cash customers are entitled to a 5% cash discount. 3. Collection of credit sales: 90% of the credit sales are collected in the following month of the sale and the balance is written off as a bad debt. 4. Purchases for