(20 MARKS) REQUIRED Use the information provided below to prepare the following for March and April 2024: 4.1 Debtors Collection Schedve (4 marks) 4.2 Cash Budget ( 16 marks) INFORMATION The following information was provided by BN Traders: 1. The bank balance on 28 February 2024 is expecled to be R100000 (untavourable) 2. The sales figures for the first four months of 2024 are expected to be as folows: 3. Cash sales usually make up 30\% of the total sales. The balance of the sales is on credic. (Separate entries are required for cash sales and colections from credit sales.) 4. Credit sales are normally collected as follows: 4.130% in the month of the sale, and these debiors are entited to a 3% discount 4.2 65\% in the month after the sale The rest is usually written off as bad debts 5. Purchases from February to Apnil 2024 are expected to be as follow5: 6. Sixty percent (60\%) of the cash purchases is subject to a 10\% cash discount. Creditors are paid in the month after the month of purchase. (Separate entries for cash purchases and payments to creditors are required.) 7. The monthly salaries amount b R200 000. This includes the salary of the manager, R50 000 . On 01 April 2024 the saiary of the manager is expected to increase by 8% and the rest of the employees by 10%. 8. The loan balance is expecled to be R360 000 on 01 March 2024. Repayments of R15 000 per month are made at the end of each month as per the loan agreement. Interest at 12% per annum on the loan balance is aiso payable at the end of each morth. 9. Part of the builing is sutlet to a tenant. The lease agreement for the year ended 31 March 2024 reflectod the rental at R144 000 per year, pajable monthy. The rental will increase by 10% with effect from 01 Apnl 2024 (20 MARKS) REQUIRED Use the information provided below to prepare the following for March and April 2024: 4.1 Debtors Collection Schedve (4 marks) 4.2 Cash Budget ( 16 marks) INFORMATION The following information was provided by BN Traders: 1. The bank balance on 28 February 2024 is expecled to be R100000 (untavourable) 2. The sales figures for the first four months of 2024 are expected to be as folows: 3. Cash sales usually make up 30\% of the total sales. The balance of the sales is on credic. (Separate entries are required for cash sales and colections from credit sales.) 4. Credit sales are normally collected as follows: 4.130% in the month of the sale, and these debiors are entited to a 3% discount 4.2 65\% in the month after the sale The rest is usually written off as bad debts 5. Purchases from February to Apnil 2024 are expected to be as follow5: 6. Sixty percent (60\%) of the cash purchases is subject to a 10\% cash discount. Creditors are paid in the month after the month of purchase. (Separate entries for cash purchases and payments to creditors are required.) 7. The monthly salaries amount b R200 000. This includes the salary of the manager, R50 000 . On 01 April 2024 the saiary of the manager is expected to increase by 8% and the rest of the employees by 10%. 8. The loan balance is expecled to be R360 000 on 01 March 2024. Repayments of R15 000 per month are made at the end of each month as per the loan agreement. Interest at 12% per annum on the loan balance is aiso payable at the end of each morth. 9. Part of the builing is sutlet to a tenant. The lease agreement for the year ended 31 March 2024 reflectod the rental at R144 000 per year, pajable monthy. The rental will increase by 10% with effect from 01 Apnl 2024
