REQURED Use the information provided kelow to prepare the folowing for Protea Limited for Jaruary, February and Narh 2023: 4.1 Debtors Colecton Schedule (6 marks) 4.2 Cash Budget (14 marks) INFORMATION Protea Linited is in the process of fomulating plans for the first quater of 2023. 1. The following sales figures show the growh expected: 2. Forty percent (40%) of the sales is expected to ke for cash and the kalance is on creait. 3. Twenty percent (20%) of the credit sales is expected to be collected in the month of the sale and 75% in the month after the sale. The remaining 5% is usualy written off as bad debts. Dektors who sette their accounts in the month of the sale are entited to a 5% discount. 4. The purchase of inventory is the compary's largest expenditure and the cost of these items equals 60% of the current month's sales (exduaing any discounts). Sixty percent ( 60% ) of the purchases is for cash, to take advantage of a 10% discount. The balance is on credit and is paid in the month after the purchase. 5. Wages and finge benefits equal 20% of the current month's sales (excluaing any discourts). Labour costs are paid for in the month in which they are incured. 6. Property taxes are estimated at R48 000 for 2023 and wil ke paid in four equal instalments in the last. month of each quarter. 7. General ard administrative expenses are projected to be R420 000 for 2023 indusing depreciation of R48 000. These expenses are incurred evenly throughout the year and are payakle monthly. 8. Seling and cistribufon expenses anwourt to R24000 for Jaruary 2023 and are expected to increase ky 10% per month thereafter. 9. A provisional company tax payment will ke mode during January 2023 and it is calculated at a rate of 28% on half the estimated taxakle income of R880000 for the financial year. 10. The expected cash kalance on 31 Decenker 2022 is R100 000