The accountant of Manacc Ltd prepared the following budgeted figures for May to September. Cash sales Credit sales May R 308 000 320 000 400 000 72 000 32 000 Purchases Salaries Sundry expenses Additional information: . June R 242 000 260 000 320 000 72 000 27 000 July R 264 000 270 000 340 000 79 200 28 500 (1) Credit sales is expected to be collected as follows: August R 275 000 275 000 350 000 79 200 29 000 September R 291 500 280 000 360 000 79 200 30 000 60% after 30 days (A discount of 5% is allowed to debtors who pay after 30 days.) 25% after 60 days 10% after 90 days 5% is written off as bad debts. (2) Customers who buy for cash receive a 10% discount. (The sales figures provided are before any discount.) Salaries, wages and sundry expenses are settled in cash. Seventy percent of all purchases are on credit and are paid one month after the purchases. Sundry expenses include depreciation of R4 000 per month. The cash in the bank on 31 July is expected to be R25 200. (3) (4) (5) (6) Required: 2.1. Prepare a Debtors Collection Schedule for the period 01 August to 30 September. 2.2. Prepare a Cash Budget for the period 01 August to 30 September. (8) (17)