Required: Debtors Collection schedule Period for October and November 2020 Cash Budget for October and November 2020 Information: 1. The bank balance on 30 September is expected to be R20 000. 2. Sales forecasts for September, October and November is as follows: September R520 000 October R460 000 November R540 000 3. Cash sales are estimated at 50% of total sales. The balance is on credit. Customers who purchase in cash are entitled to 10% cash discount. 4. Amounts owed to the business from credit sales are expected to be collected as Follows: 60% during the month of sale 40% in the following month. 5. Expected purchases of inventory for September to November 2020 are as follows: September R260 000 October R230 000 November R270 000 7. 6. 40% of all purchases are for cash and the balance is on credit. Creditors are paid in full in the month following the purchase transaction. Rent expense amounts to R15 000 per month, payable monthly. Rent will increase by 10% of from 01November 2020. 8. Selling and administrative expenses are estimated at 20% of sales (before discounts are deducted). They are payable in the month of sale. 9. Insurance amounts to R48 000 per annum, payable monthly. 10. Cash drawings of each month are expected to amount to R20 000