QUESTION 2 (25 MARKS) An extract from the Statement of Financial Position of Gqeberha Builders Mate (Pty) Ltd (Gqeberha) on 31 July 2022 included the following account headings : In order to effectively manage the company's monthly cash flow, a minimum opening balance of R60 000 is required. Additional information relating to Gqeberha Trade Centre is as follows: - Sales for August and September are expected to be R400 000 and R480 000 respectively. - There are no cash sales. - Cash from the sales are collected as follows 55% in the month in which the sale is made, - 44% one month after the sale is made, and - 1% remains uncollectable. - Cost of sales is equal to 60% of sales revenue. - Management wants to end each month with ten percent of that month's cost of sales in Finished goods inventory. - All suppliers are paid in the month in which the transactions are incurred. - Other monthly expenses amount to R52 000, inclusive of R8 000 depreciation, but does not include any bad debts related expenditure. REQUIRED: 1. Prepare a schedule of expected cash collections for August 2022. 2. Prepare a schedule for August and September 2022 showing the cost of purchases. 3. Prepare a cash budget for August 2022 including opening and closing balances. (7)