Mahi Enterprises, a leading provider of cellular accessories, announced two brand-new products both delivering outstanding performance with availability from June 2018. Sales of R50,000 in June and R60,000 in July were recorded. Forecast sales for August, September and October are R70,000; R80,000 and R100,000 respectively.
Additional information:

1.	Collections from accounts receivables are as follows:
		60% of sales in the month of sale, 20% are collected in the next month, and the remaining 20% are collected in the second month following sale.
2.	Monthly rental income of R2,000 is collected from Nash Traders for the section of the premises that they occupy.
3.	The purchases, all on a cash basis, are R50,000; R70,000 and R80,000 for the months of August through October respectively.
4.	Mahi Ltd pays monthly rental to Wakefield Agencies for premises used for storage of R3,000.
5.	Wages and salaries are 10% of the previous months sales.
6.	Cash dividends of R3,000 will be paid in September.
7.	Payment of principal and interest of R4,000 is due In September.
8.	A cash purchase of equipment costing R6,000 is scheduled in October.
9.	Annual taxes of R6,000 are due to be paid in September.
10.	The favourable cash balance on 1 August will be R5,000.
11.	The company maintains a minimum cash balance of R5,000.