1 Peter sells goods to customers on credit. It is forecast that credit sales for July will be RM36,000 and that sales will increase by RM2,000 per month for the next six months. Based on past experience Peter expects 50% of customers to pay in the month after sale, 25% of customers to pay 2 months after sale and the remainder to pay 3 months after sale. PJ has a trade receivable balance outstanding at the beginning of July of RM65,000. Required: a. Calculate the cash that PJ will receive from credit customers during the six months period to the end of December. (11 marks) b. State TWO methods that the supplier could use to reduce its level of outstanding trade receivables. (4 marks)