1. Cash sales amount to 20% of total sales. 2. The balance is on credit and credit sales are collected as follows: 20% in the month of the sale 50% one month after the sale 30% two months after the sale 3. All purchases are on credit and they are paid in full one month after the purchases. 4. The owner increased his capital in the business by depositing R75 000 into the bank account of the firm on 1 February. 5. A printing machine costing R50 000 will be purchased for cash on 15 March. 6. Rent income will increase to R144 000 per annum as from 1 March. 7. Salaries are paid on 25th of each month and will increase by 5% in March. 8. On 1 January, the bank account will have a favourable balance of R50 000.