QUESTION THREE [25] The management of Palind Ltd decide to prepare a Cash Budget for November and December. The following information is available: Additional information: 1. Cash in respect of credit sales is collected as follows: - 50% within 30 days - 30% within 60 days - 15% within 90 days - The balance is written off as irrecoverable. 2. The following discounts are allowed on sales: - 10% on cash sales - 7.5% on credit sales if accounts are settled within 30 days. 3. All salaries, wages and sundry expenses are paid in cash. 4. Sundry expenses include depreciation of R4 200 per month. 5. Seventy-five (75%) of all purchases are on credit and paid within 30 days. The balance is paid in cash. 6. A year-end bonus to employees totaling R20 000 will be paid in December. 7. The cash in the bank on 31 October was R44 500 . Required: Prepare a Cash Budget for November and December using separate monetary columns for each month