QUESTION THREE [30] Below is the information pertaining to MBALI PTY(Ltd) a horticultural entity based in Garden Route municipality. Mrs Rose Blom owns the business. Actual Sales Budgeted Sales Cost of Sales October 2020 100 000 75 000 November 2020 120 000 90 000 December 2020 160 000 120 000 January 2021 200 000 150 000 Additional information: a. The business has overdraft bank facilities of R50 000. b. 25% of the total sales are on credit. C. Debtors are expected to pay their accounts as follows: - 65 % in the month following the month of the sale. - 33 % two months following the month of the sale. - 2% is to be written off in the third month following the month of the sale. d. A fixed level of trading stock on hand is maintained throughout the year through replacement on a monthly basis. e. Purchases of stock: - 65% of all stock is bought on credit. - Creditors are paid in full in the month following the month of purchase to qualify for a 5 % discount f. It has been agreed that Mrs Blom, will take unused equipment at book value in January for her own use, the equipment is worth R2 000. g. R100 000 was invested in fixed deposits with Bahati Bank on 1 November 2020. Interest is received on a monthly basis at 15% per annum; half of these fixed deposits matures on 31 December 2020. The rest matures in February 2021. Rent of R9 000 is payable by MBALI PTY (Ltd) at the start of each month. This will h. Required: 3.1 Debtors Collection Schedule for the period 1 December 2020 to 31 January 2021 (10) 3.2 Cash Budget for the period 1 December 2020 to 31 January 2021 (20)