REQUIRED

a$.$ Complete the debtors collection schedule of Two Direction traders for the period $1$ May $20\mathrm{.}6$ to $30$ June $20\mathrm{.}6.$

b$.$ Complete the cash budget of Two Direction Traders for the period $1$ May $20\mathrm{.}6$ to $30$ June $20\mathrm{.}6.$

INFORMATION

The following actual and budgeted amounts of Two Direction were presented to you:

Additional information

The bank account in the general ledger had a credit balance of R$2000$ on $30$ April $20\mathrm{.}6.$

Debtors are expected to pay their accounts as follows:

$70\%$ after $30$ days;

$25\%$ after $60$ days; and

$5\%$ is written off.

Creditors are paid $30$ days after the purchase has been made.

Interest on an investment of R$10000$ at $15\%$ per annum is received in two equal amounts in June and December

every year.

Each month, the owner withdraws cash of R$3000$ and inventory of R$1000$ for personal use.

A new vehicle of R$102000$ will be purchased in May $20\mathrm{.}6.$ A deposit of R$40000$ will be made on $10$ May $20\mathrm{.}6$ and

thereafter a monthly instalment of R$2500$ will be paid with effect from $1$ June $20\mathrm{.}6.$