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QUESTION TWO [30] The Following information is extracted from the books of Primex tyres: c. Actual information: MECENT BUSINESS SCHODL (RBS) - JANUARY 222 28

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QUESTION TWO [30] The Following information is extracted from the books of Primex tyres: c. Actual information: MECENT BUSINESS SCHODL (RBS) - JANUARY 222 28 HCIBM- ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE d. Information for budgeting purposes: Additional information: 1) It is estimated that debtors will pay their accounts as follows: - 30% in the month of sales subject to 5% discount for earty payment - 50% in the following month - 15% in the second moth after sales took place - 5% is unikely to be collected ii) It is estimated that creditors will be paid as follows: - R38 040 in December 2021 - R16 620 in January 2022 - R7 860 in February 2022 iii) In January 2023 the employees will be pay a bonus of 80% of their monethly salary iv) The interest rate in the loan is 12% per annum it has been agreed that the loan is to be increased form R180 000 to 210000 on 31 January 2022. The interest is paid at the end of each moth Kindly use the following template while preparing cash budget: Required: 2.1 Complete the Debtors' Collection Schedule which shows the amount of the tyres dealer will receive from debtors from 1 December 2021 to 28 February 2022. 2.2 Prepare the cash budget for December 2021 and January 2022

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