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REQUIRED Use the information provided below to prepare the following for January and February 2024: 3.1 Debtors Collection Schedule (4 marks) 3.2 Cash Budget (16
REQUIRED Use the information provided below to prepare the following for January and February 2024: 3.1 Debtors Collection Schedule (4 marks) 3.2 Cash Budget (16 marks) INFORMATION The following information supplied by Orbit Enterprises: 1. Orbit Enterprises expects to have an unfavourable bank balance of R36 000 on 31 December 2023. 2. Fxnesten sales are as fnllnws. 3. Credit sales account for 60% of the total sales. The rest of the sales is for cash. 4. The amounts owed by debtors are usually collected as follows: - 20% is collected in the same month as the credit sales for a 2% cash discount. - 75% is collected in the month after the sale. 5% is written off as bad debts
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