As the Financial Manager of Crazy Furniture, you decided to set up cash budgets to assist with financial forecasts. The following figures are from the budget of Crazy Furniture for the first quarter of 2022: JANUARY FEBRUARY MARCH R R R Credit sales 310 000 375 000 148 000 335 000 130 000 Credit purchases 135 000 Cash disbursements 25 000 Wages, taxes, and expenses 20 000 9500 55 500 20 000 9500 Interest 9 500 Equipment purchases 85 500 110 500 The firm predicts that 5% of its sales will never be collected, 60% of its sales will be collected in the month of the sale, and the remaining 35% will be collected in the following month. Credit purchases will be paid in the month following the purchases. In December 2021, credit sales were R295 000. Use the following template to assist you in answering the questions. JANUARY FEBRUARY MARCH Beginning cash balances R295 000293 R Cash receipts Cash collections from credit sales 20 Q91 299 Q100 Total cash available Q95 Cash disbursements Purchases R155500096 Q101 Wages, taxes and expenses R 20 000 Interest R 9000 Equipment purchases R 55 500 Total cash disbursements 292 Ending cash balance R Q97 Q98 R20 000 R9000 RBS 000 Q102 Q103 R 25 000 R 9000 R110 500 As the Financial Manager of Crazy Furniture, you decided to set up cash budgets to assist with financial forecasts. The following figures are from the budget of Crazy Furniture for the first quarter of 2022: JANUARY FEBRUARY MARCH R R R Credit sales 310 000 375 000 148 000 335 000 130 000 Credit purchases 135 000 Cash disbursements 25 000 Wages, taxes, and expenses 20 000 9500 55 500 20 000 9500 Interest 9 500 Equipment purchases 85 500 110 500 The firm predicts that 5% of its sales will never be collected, 60% of its sales will be collected in the month of the sale, and the remaining 35% will be collected in the following month. Credit purchases will be paid in the month following the purchases. In December 2021, credit sales were R295 000. Use the following template to assist you in answering the questions. JANUARY FEBRUARY MARCH Beginning cash balances R295 000293 R Cash receipts Cash collections from credit sales 20 Q91 299 Q100 Total cash available Q95 Cash disbursements Purchases R155500096 Q101 Wages, taxes and expenses R 20 000 Interest R 9000 Equipment purchases R 55 500 Total cash disbursements 292 Ending cash balance R Q97 Q98 R20 000 R9000 RBS 000 Q102 Q103 R 25 000 R 9000 R110 500