QUESTION 5 REQUIRED Use the information provided below to prepare the following for July and August 2 0 2 4 5 1 Debtors Collection Schedule Cash Budget INFORMATION The following information was provided by Miller Enterprises Budgeted sales ( excluding discounts ) are as follows Twenty percent ( 2 0 ) of the cash sales is subject to a discount of 1 0 Credit sales are normally collected as follows 6 0 in the month of the sale, and these customers are entitled to a 5 discount 4 0 in the month after the sale R 5 0 0 0 0 will be invested in a fixed deposit account on 3 1 July 2 0 2 4 at an interest rate of 1 2 per annum Interest will be received monthly commencing August 2 0 2 4 Purchases are expected to be as follows Creditors are paid in the month after the month of purchase Wages and salaries are expected to amount to R 1 4 3 0 0 0 for August 2 0 2 4 after a 1 0 increase takes effect from 0 1 August 2 0 2 4 Loan repayments of R 1 0 0 0 0 are made at the end of each month The balance in the loan account is expected to be R 3 0 0 0 0 0 on 0 1 July 2 0 2 4 Interest at 1 2 per annum is also payable at the end of each month Rent income amounts to R 9 6 0 0 0 per year Rent is received monthly Other cash expenses are budgeted at R 3 0 0 0 0 for June 2 0 2 4 These expenses are expected to increase by 5 each month

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QUESTION 5 REQUIRED Use the information provided below to prepare the following for July and August 2 0 2 4   5   1 Debtors Collection Schedule Cash Budget  INFORMATION The following information was provided by Miller Enterprises  Budgeted sales ( excluding discounts ) are as follows  Twenty percent ( 2 0   ) of the cash sales is subject to a discount of 1 0     Credit sales are normally collected as follows  6 0   in the month of the sale, and these customers are entitled to a 5   discount  4 0   in the month after the sale  R 5 0 0 0 0 will be invested in a fixed deposit account on 3 1 July 2 0 2 4 at an interest rate of 1 2   per annum  Interest will be received monthly commencing August 2 0 2 4   Purchases are expected to be as follows  Creditors are paid in the month after the month of purchase  Wages and salaries are expected to amount to R 1 4 3 0 0 0 for August 2 0 2 4 after a 1 0   increase takes effect from 0 1 August 2 0 2 4   Loan repayments of R 1 0 0 0 0 are made at the end of each month  The balance in the loan account is expected to be R 3 0 0 0 0 0 on 0 1 July 2 0 2 4   Interest at 1 2   per annum is also payable at the end of each month  Rent income amounts to R 9 6 0 0 0 per year  Rent is received monthly  Other cash expenses are budgeted at R 3 0 0 0 0 for June 2 0 2 4   These expenses are expected to increase by 5   each month

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QUESTION 5 REQUIRED Use the information provided below to prepare the following for July and August 2 0 2 4 : 5 . 1 Debtors

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