EQURED Jse the information provided below to prepare the Gollowing for Proiea Limited for Januay. Fotnar, xarch 2023: Debtors Collection Schedule Cash Budget NFORMATION Protea Limited is in the process of formulating plans for the first quarter of 2023. The following sales figures show the arowth exnariod. 2. Forty percent (40%) of the sales is expected to be for cash and the balance is on crect 3. Twenty percent (20%) of the credit sales is expected to be collected in the month of the sale and 75 the month affer the sale. The remaining 5% is usually written off as bad debts. Debiors who setis accounts in the month of the sale are entitied to a 5% discount. 4. The purchase of inventory is the company's largest expenditure and the cost of these items equals of the current month's sales (excluding any discounts). Sixty percent (60\%) of the purchases is for to take advantage of a 10% discount. The balance is on crect and is paid in the month ate purchase. 5. Wages and fringe benefits equal 20% of the current month's sales (excluding any discounts). Ls costs are paid for in the month in which they are incurred. 6. Propenty taxes are estimated at R48 000 for 2023 and will be paid in four equal instalments in the month of each quarter. 7. General and administrative expenses are projected to be R420 000 for 2023 including depreciat R48000. These expenses are incurred evenly throughout the year and are payable monthly. 8. Selling and distribution expenses amount to 224000 for January 2023 and are expected to increa 10% per month thereafter. 9. A provisional company tax payment will be made during January 2023 and it is calculated at a 28% on half the estimated taxable income of R880000 for the financial year. 10. The expected cash balance on 31 December 2022 is R 100000. EQURED Jse the information provided below to prepare the Gollowing for Proiea Limited for Januay. Fotnar, xarch 2023: Debtors Collection Schedule Cash Budget NFORMATION Protea Limited is in the process of formulating plans for the first quarter of 2023. The following sales figures show the arowth exnariod. 2. Forty percent (40%) of the sales is expected to be for cash and the balance is on crect 3. Twenty percent (20%) of the credit sales is expected to be collected in the month of the sale and 75 the month affer the sale. The remaining 5% is usually written off as bad debts. Debiors who setis accounts in the month of the sale are entitied to a 5% discount. 4. The purchase of inventory is the company's largest expenditure and the cost of these items equals of the current month's sales (excluding any discounts). Sixty percent (60\%) of the purchases is for to take advantage of a 10% discount. The balance is on crect and is paid in the month ate purchase. 5. Wages and fringe benefits equal 20% of the current month's sales (excluding any discounts). Ls costs are paid for in the month in which they are incurred. 6. Propenty taxes are estimated at R48 000 for 2023 and will be paid in four equal instalments in the month of each quarter. 7. General and administrative expenses are projected to be R420 000 for 2023 including depreciat R48000. These expenses are incurred evenly throughout the year and are payable monthly. 8. Selling and distribution expenses amount to 224000 for January 2023 and are expected to increa 10% per month thereafter. 9. A provisional company tax payment will be made during January 2023 and it is calculated at a 28% on half the estimated taxable income of R880000 for the financial year. 10. The expected cash balance on 31 December 2022 is R 100000