QUESTION 4 (20 MARKS) REQURED Use the informafon provided below to prepare fhe folowing for March and April 2024 4.1 Debtors Collection Schedule (4 marks) 4.2 Cash Budget ( 16 marks) ENFORMATION The following informafon was provided by BN Traders: 1. The bank balance on 2B February 2024 is eupected to be R100 000 (unfavcurable). 2. The sales figures for the first four months of 2024 are expected to be as follows 3. Cash sales usually make up 30% of the total sales. The balance of the sales is on redt. (Separate entries are required for cash sales and collections fom credit sales.) 4. Credit sales are normaly colected as follows: 4.1 30% in the month of the sale, and these debiors are entled to a 3% discount. 4.265% in the month after the sale The rest is usually written off as bad debts. 5. Purchases from February to Apri 2024 are expected to be as follows: 6. Sinty pertent (60\%5) of the cash purchases is subject to a 10% cash discount. Creditors are paid in the monh afer the month of purchase. (Separate enties for cash purchases and payments to credtors are required.) 7. The monthly salaries amount to R200 000. This includes the salary of the mansge, R60 000 . On 01 Apri 2024 the salary of the manager is expected to increase by 6% and the rest of the employees by 10%. 8. The loan balance is expected to be R360 000 on 01 March 2024. Repayments of R15 000 per monh are made at the end of each month as per the loan sgreement. Interest at 12% per arnum on the loan balance is also payable at the end of each month. 9. Part of the building is sublet to a tenart. The lease agreement for the year ended 31 March 2024 refected the rental at R144 000 per year, payable monthy. The rental wil increase by 10% with efect from 01 Apri 2024. 10. Other cash operaing eupenses are expected to total R150 000 for February 2024. These eupenses are eupected to increase by 5% each month thereafter