Please assist in preparing a debtors collection schedule and a cash budget

GENERIC - Management Accounting Final.pdf - Adobe Acrobat Reader DC X File Edit View Window Help Home Tools GENERIC - Manage... x ? T 2 17 do Share The following information relates to Tea Limited, a company that will commence business on 1 January 2021. The company is preparing its budget for 2021 and will detail the projected activities for each quarter of the year. Search 'Add Image' Information: Convert 1. Cash at bank on 1 January 2021 amounted to R150 000. 2. Projected sales per quarter for 2021: PDF to other formats First quarter R750 000 Convert PDF files to Word Second quarter R825 000 and other formats with paid subscription Third quarter R930 000 Fourth quarter R980 000 Select PDF File Fifty percent (50%) of the sales are for cash and fifty percent (50%) are on credit. Cash customers are entitled GENERIC - ... Final.pdf X to a 5% cash discount. 3. Collection of credit sales: Convert to Microsoft Word (*.docx) Document Language: English (U.S.) Change Convert 60% of the credit sales are collected in the quarter of the sale. . 30% is collected in the following quarter and the balance is written off as a bad debt Convert and edit PDFs with Acrobat Pro DC 4. Purchases + 80% First 9 Start Free Trial Second quarter R120 000GENERIC - Management Accounting Final.pdf - Adobe Acrobat Reader DC X File Edit View Window Help Home Tools GENERIC - Manage... x ? 3 /7 do Share Search 'Add Image' Convert PDF to other formats 60% of the credit sales are collected in the quarter of the sale. Convert PDF files to Word 30% is collected in the following quarter and the balance is written off as a bad debt. and other formats with paid subscription 4. Purchases for each quarter are expected to be as follows: First quarter R100 000 Select PDF File Second quarter R120 000 GENERIC - ... Final.pdf X Third quarter R140 000 Fourth quarter R180 000 Convert to All purchases are on credit. 75% of the purchases will be paid for in the quarter of purchase and the remaining Microsoft Word (*.docx) 25% in the following quarter. 5. Fixed overheads total R200 000 per year and are paid for equally each quarter. Document Language: 6. Administrative expenses are paid for in the quarter in which they are incurred and are estimated at a total of English (U.S.) Change R20 000 per quarter. 7. An investment of R150 000 matures on 30 June 2021, and interest of R15 000 will also be received on this Convert date Convert and edit PDFs Required: with Acrobat Pro DC 2.1 Prepare the Debtors Collection Schedule for the four quarters of 2021. (6 marks) Start Free Trial 2.2 Prepare the Cash Budget for the four quarters of 2021. (14 marks)