Question 2 The following information relates to WillovaleLtd: The Statement of Financial Position items at 31 July 2018: Accounts Receivable Inventory Bank (favourable) R 130 000 56 000 1800 Additional information: Budgeted August 2018 R 215 000 Budgeted September 2018 R 232 000 Actual and Budgeted: Actual July 2018 R Sales - 75% on 200 000 credit Purchases - 85% 84 500 on credit Sundry Expenses 3 500 Wages 10 000 Depreciation 800 202 500 204 500 3 100 10 500 800 3 800 11 000 800 Accounts receivable are expected to settle their accounts as follows: 1 15% during the month of sale ii. 65% during the month following the month of sale 17% during the second month following the month of sales. iv. The remaining 3% normally represents credit losses. Expenses and wages are paid at the end of the month. Accounts payable in respect of credit purchases will be paid during the month following the month of purchase at a discount of 5%. Required: Construct the cash budget of Willovale Ltd for August 8 September 2018. (20 Marks) [Note: Answer should be in columnar form] [Sub Total 20 Marks]