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REQUIRED Use the informstion given below to pepare the following for the firs thee months of operations (Le. Jely, August and Seplember 2020|- 4.1 Debfors

image text in transcribed REQUIRED Use the informstion given below to pepare the following for the firs thee months of operations (Le. Jely, August and Seplember 2020|- 4.1 Debfors Colection Schecule (5 marks) 4.2 Cash Budget (15 merks) NFORUATION The following budgeted information relates to Oscar Limited that wil commente business on 01 July 2023: 1. An amount of PQ00 000 is expected to be barked on 01 July 2023 from the sale of ardinary shares to the public. 2. New machirery and equipment wil be purchased on 02 July 2023 for R400000. A deposit of 25% will be paid immediately and the balante plus finance charges of R60 000 will be psid in fue equal monthly instalments commencing August 2023. 3. The rumber of units of the only product that is expected to be sold and produced each month are as follews: 4. The seling price of the product is R110 per uni. Cash sales are eupecied to comprise 60% of the fotal sales. The balanoe of the sales wil be on credit. Forty percent (40\%) of the cash sales is subject to a 10% cash discount. Thity percent (30\%) of the credit sales is expected to be collected in the month of the sale. The balance is eipected to be received in the month ater the sale. 5. Variable manufacturing costs per unit are estimated as follows: 6. Drect materials will be purchased for the production requirements of each month. Twenty percent(20\%) of the purchases is expected to be for cash and fhe balance wil be paid two months after the purchase

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