QUESTION 5 (30 marks) (36 minutes) This question consists of two separate parts, both of which must be answered. PART 5.1 (15) 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 31 October 2019 2 The following table shows the actual and budgeted information Actual sales Budgeted sales August September October November December 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 9 800 10 200 11 000 10 500 Current expenses 1 800 1 750 1 900 2 000 1 850 R R R 9 000 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 4 Creditors are paid one month after purchases 5 Current expenses are paid in cash, two months after they have been incurred [TURN OVER] Confidential Page 5 of 6 MAC1501 OCTOBER/NOVEMBER 2019 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 November by 5% 8 New equipment was purchased on 2 September 2019 for R12 000 It will be repaid in four equal monthly payments The first payment is due on 30 November 2019 REQUIRED: Prepare the cash budget of Mamone Enterprises (Pty) Ltd for November 2019