INFORMATION The following information was provided by Orlando Enterprises: 1. The bank balance on 31 July 2023 is expected to be R80 000 (favourable). 2. The expected sales are as follows: June July August September Cash sales R408 000 R480 000 R412 000 R300 000 Credit sales R500 000 R540 000 R224 000 R340 000 3. Customers who purchase for cash are entitled to a 5% discount. Collections from credit sales are expected to be as follows: 3.1 20% in the month of sale, and these debtors receive a 2% discount 3.2 80% in the month after the sale 4. The expected purchases (excluding discounts) are as follows: June July August September Cash purchases R240 000 R288 000 R246 000