QUESTION 3 (15 marks) This question consists of two separate parts, both of which must be answered. Mamone Enterprises (Pty) Ltd, a subsidiary of Samuels Limited provided the following information: 1. The bank account shows a credit balance of R1 790 on 30 June 2021. 2. The following table shows the actual and budgeted information: Actual sales (2021) Budgeted sales (2021) April May June July August R R R R R Cash sales 8 000 9 000 10 800 11 000 12 000 Credit sales 17 000 18 000 20 000 21 000 22 000 Cash purchases 5 000 4 600 4 800 6 000 5 500 Credit purchases 9 000 9 800 10 200 11 000 10 500 Operating expenses 1 800 1 750 1 900 2 000 1 850 3. Debtors pay their accounts as follows: 25% after 30 days . . 50% after 60 days 20% after 90 days 5% written off after 120 days . [TURN OVER] 6 MAC1501/102/ECP 4. Creditors are paid one month after purchases. 5. Operating expenses are paid in cash, two months after they have been incurred. 6. Depreciation amounts to R700 per month. 7. A building is rented out at R1 500 per month. The rent is received monthly and increases annually on 1 July by 5%. 8. New equipment was purchased on 2 May 2021 for R12 000. It will be repaid in four equal monthly payments. The first payment is due on 31 July 2021. REQUIRED: Prepare the cash budget of Mamone Enterprises (Pty) Ltd for the month ending 31 July 2021