STION 2 REQURED study the information provided below and prepare the following for July and August 2020: 21 Debtors Collection Schedule 22 Cash Budget (16 ) Note: Provide separate monetary columns for each month. INFORMATION Yeoville Limited is developing a cash budget for July and August 2020. The following information is available: 1. Expected sales for May to August 2020 are as follows: May R100 000 June R800 000 R1 400 000 August R1 100 000 July Yaar 3 Historically 40% of the company's sales have been on cash and the rest on credit Sixty percent (60%) of the credit sales is collected after one month, thirty five percent after two months, and the balance is written off as bad debts after two months is collected 4. During August 2020 the company expects to receive a dividend of cents per share on the 50 000 shares that it holds in Harpic Limited 5. The company's purchases of inventory are equal to 55% of sales of this amount, 40% is paid in cash and the balance is paid one month after the purchase 6. The annual rental of R288 000 will increase by 10% from 01 August 2020. Rantis payable to do each month. 7. The fixed salary cost for the year is R480 000. paid evenly every month for 23 employees including the manager who earns twice as much per month compared to the other employees 8. Interest on loan at a rate of 15% per year is payable monthly on the loan. The loan no R150 000 on 01 July 2020 will be reduced by means of a payment of R30 000 on 31 July 2020. 9. New machinery with a cost of R100 000, subject to a 10% cash discount, will be purchased and paid for during July 2020 10. Other cash operating expenses are expected to total R300 000 for June 2020 and an expect to increase by 5% each month. 11. Cash in the bank on 30 June 2020 is expected to amount to R50 000