Question 7 You are required to prepare the cash budget for the two months of January and February 2021. The following is the projected information: January 2021 February 2021 Cash sales R293,096 R309,786 Receivables collection R70,922 R68,703 R33,389 Cash purchases R35,633 Rent payment R7,961 R7,961 The bank balance on 1 January 2021 is expected to be R219,645 favourable. A fixed deposit for R100,369 is expected to mature on 25 January 2021. Equipment to the value of R155,766 is to be purchased on credit in January 2021 and will be paid in full on 28 February 2021. The expected closing bank balance on 31 January 2021 will be R