2. Total sales forecasts are: 3. 50% of all sales are on credit. All debtors pay in the month following the month of sales 4. Cost of goods sold averages 75% of sales. Inventory purchased during each month averages the cost of sales for the following month. The creditor payment period averages 15 days and goods are purchased consistently over the month. 5. Operating expenses are projected as follows: - Salaries and wages at 12% of sales paid in the month of the sale. - Other expenses at an average of 10% of sales paid in the month of the sale. - Cash receipts expected from repayment of a loan to an employee of R 22320 due in March 2023 - Repayment of short-term loan of R 11160 is due in March 2023. - Repayments of long-term loans due at R 14880 each in January and March 2023. - A new refrigerator was purchased for R 178560 and four payments of R 50640 each are due in February, March, April and May 2023. - Depreciation on all equipment is written off at a rate of R25000 per month. - Interest income from an investment of R 16228 per month is expected. - A bonus of R 230300 is due to staff in January 2023. - The company must pay tax to SARS in March 2023, R 64080 Please Note: you will need to prepare a schedule of budgeted receipts of Prime Technologies (Pty) Ltd for the months January, February and March 2023 before attempting to answer the questions below: Calculate the cash sales for January 2023 1.1) What is the difference in credit sales for February and credit sales for March 2023 ? 1.2) How much did the company eam in total receipts from January to March 2023