Question 3 14 marks) Use the following information provided by Viking Enterprises to pragare the slowing teranuary and February 2022 3.1 Debtors Collection Schedule 3.2 Cash Budget 18 marks) INFORMATION The following information was provided by Viking Enterprise to the preparation of the cash budget for the first two months of 2002: A bank overdraft or R50 000 is expected on 09 January 2022 Forecasted credit sales se folos 2 December 2001 January 2022 February 2002 R150 000 R240000 2 4 ! Dede sales nualy make up 60% of the total al Castle makes the balance Credeals am normally collected as follow 2 in the month in which the transaction takes place. These bonne entitled 25% decourt : 79% in the following month The rest is tusly writer off at had dott. Budgeted purchases of menteryem lotowe December 2021 February 2012 Credit purchases R70000 R50 000 R85000 Cash purchases R0000 R8000 R8 000 Viking Enterprises expect a discount of 10% on all the cast purchases Creditors usually ser credt terms of 30 days, which are adhered to # The salaries for February 2002 are expected to amourt RS5080 erant increase takes effect from 01 February 2022 7 Interest at 18% per annum on the ban balance is payable monthly Theban balance on 01 January 2022 expected to be R200 000 and capital repayments of 10 000 made at the end of each month Part of the building is subletto a cant. The rest for the year anded 31 December 2021 amounts to R55 500 The rental agreement which came into efecturing 2018. ted that the real would increase by 10% on 01 February each year 9. Other operating expenses amount to R10 000 per month. This amount includes R2 000 for depreciation. Operating expenses are paid for in the month in which they are incurred