$1.$

The following figures are available for Intec $($Pty$)$ Ltd:

Actual $(2017)$

Budget $(2017)$

January

February

March

April

May

Sales

$96000$

$120000$

$60000$

$160000$

$200000$

Purchases

$100000$

$50000$

$160000$

$84000$

$60000$

Sales commission

$400$

$600$

$1200$

$800$

$400$

Wages

$800$

$800$

$800$

$?$

$?$

$2.$

$40\%$ of all sales are for cash.

$3.$

$35\%$ of all purchases are for cash.

$4.$

Collection from debtors are as follows:

$20\%$ is collected in the month of the sale and $2\%$ discount is granted on these collections.

$60\%$ is collected in the month following the month of sale.

$15\%$ is collected in the second month following the month of sale.

The remaining $5\%$ is written off as a bad debt.

$5.$

Intec $($Pty$)$ Ltd will make an investment of R$50000$ in fixed deposit on $01$ April $2017.$

$6.$

Interest of R$500$ per month on the fixed deposit is expected to be received from

$30$ April $2017.$

$7.$

Creditors are paid $2$ months after date of invoice.

$8.$

Rent expense amounts to R$8000$ per month and is payable on the first day of each month.

$9.$

Wages will be increased by $10\%$ in April and will increase by a further $5\%$ in May $2017.$

$10.$

A new machine is expected to be purchased for R$10000$ cash in May $2017.$

$11.$

Commission is paid to sales personnel in the month following the month in which it was earned.

$12.$

On $31$ March $2017,$ Intec $($Pty$)$ Ltd had a bank overdraft of R$28000.$

Required:

$3\mathrm{.}1.$ Prepare the debtors$$ collection schedule for April and May $2017.(10)$

$3\mathrm{.}2.$ Prepare the cash budget for April and May $2017.(20$