Cash Budget (20 Marks) The following information was projected for Amalfi Coast Traders for the three months period 1 January to 31 March 2021: Information: Projections: Details January February March Total sales 300 000 350 000 400 000 Total purchases 180 000 150 000 180 000 Rent income 10 000 Salaries 23 000 Additional information: 1. Cash sales amount to 20% of total sales. 2. The balance is on credit and credit sales are collected as follows: 20% in the month of the sale 50% one month after the sale 30% two months after the sale 3. Payment of total purchases is as follows: All purchases are on credit and they are paid in full one month after the purchases. 4. The owner increased his capital in the business by depositing R75 000 into the bank account of the firm on 1 February 2021. 5. A printing machine costing R50 000 will be purchased for cash on 15 March 2021. 6. Rent income will increase to R144 000 per annum as from 1 March 2021. 7. Salaries are paid on 25th of each month and will increase by 5% in March 2021. 8. On 1 January 2021, the bank account will have a favourable balance of R50 000. REQUIRED: Draw up the Debtors Schedule & Cash Budget Statement for Amalfi Coast Traders, in order to establish the budgeted cash position of the business at the end of January, February and March 2021.