20 Marks) 4.1 REQUIRED Use the following information supplied by Ryobi Enterprises to propare the Debtors Collection Schedule for January and February 2021 4.2 Cash Budget for January and February 2021. (4 marks) (16 marks) Note: Where applicable, round off amounts to the nearest Rand. INFORMATION 1. Ryobi Enterprises expects to have a favourable bank balance of R20 000 on 31 December 2021 2 Expected sales are as follows: December 2020 January 2021 February 2021 R280 000 R230 000 R260 000 3 4 Credit sales usually comprise 40% of the total sales. The rest of the sales are for cash, The amounts owing by debtors are usually collected as follows: 30% is received in the same month as the credit sales: 65% is received in the month after the sale 5% is written off as bad debts SISTICS Inom 5% is written off as bad debts All purchases of inventory are on credit Expected purchases are as follows: 5. November 2020 December 2020 January 2021 February 2021 R180 000 R200 000 R150 000 R170 000 Creditors are paid two months after the purchase. 6. The monthly salary expense of R60 000 is expected to increase by 8% from 01 February 2021 7. Interest on loan for three months at an interest rate of 12% pa, on the loan balance of R120 000 will be paid on 31 January 2021 8 Advertising expenses are paid monthly and are estimated to be 5% of the total sales of each month 9 The proprietor's cash drawings are expected to amount to R10 000 per month 10. Other cash operating expenses are expected to amount to R30 000 for Decembar 2020. These expenses are expected to increase by 5% per month