1. Prepare the debtors collection schedule for Wellworths Enterprises for the period 1 October 2021 to 31 December 2021

2. Prepare the Cash Budget for the period 1 October 2021 to 31 December 2021.

The following information relates to Wellworths Enterprises: 1. Balances on 1 October 2021 Equipment (including computers) at cost price Accumulated depreciation on equipment Bank (debit) Accrued expenses (Advertising) 2. Extract from the Statement of Comprehensive Income for the year ended 30 September 2021 Salaries R360 000 R29 500 R12 000 Advertising Interest on loan Loss on disposal of vehicle Other cash operating expenses 3. Total sales is as follows: Actual 2021 August R90 000 September R80 000 October R75 000 R80 000 6. 7. 8. 25% of purchases are paid in cash 9. R34 000 R90 000 R5 000 R3 200 R178 000 Budgeted 2021 November R110 000 The business uses a fixed stock base and buys what it sells at the end of each month. A fixed mark up percentage of 50% on cost is used. December 4. 40% of all sales are on credit 5. The amounts owing by debtors are collected as follows: -40% in the month of sale and a 2.5% discount is given to these debtors for prompt settlement -35% after 30 days - 20% after 60 days -The rest is written off as irrecoverable after 90 days R150 000 90% of creditors are paid in the month following the purchase and a discount of 5% is received on these payments. The remainder of creditors are paid after 60 days.