The following information is presented to you to prepare the cash budget for Alpha Stores: EXPECTED: September 2020 October 2020 November 2020 December 2020 Cash purchases R21,412 R20,208 R25,537 R28,354 R18,219 R21,636 R22,751 R25,283 Credit purchases Rent payment R8,128 R8,128 R8,128 R6,379 Salaries R120,039 R120,039 R120,039 ? Credit purchases are paid for in full in the month following purchase. Equipment to the value of R57,177 will be purchased on credit in October and will be repaid in six equal monthly instalments commencing on 30 November 2020 Staff are paid an annual bonus in December of 50% of their monthly salary: The expected payments total in October 2020 will be R Question 7 O out of 2 points You are required to prepare the cash budget for the two months of January and February 2021. The following is the projected information: January 2021 February 2021 Cash sales R293,096 R309,786 Receivables collection R68,703 R70,922 Cash purchases R33,389 R35,633 Rent payment R7,961 R7,961 The bank balance on 1 January 2021 is expected to be R219,645 favourable. A fixed deposit for R100,369 is expected to mature on 25 January 2021. Equipment to the value of R155,766 is to be purchased on credit in January 2021 and will be paid in full on 28 February 2021. The expected closing bank balance on 31 January 2021 will be R Monday, 15 November 2021 13:04:52 o'clock SAST The actual sales for Dynamic Duo Limited for October 2020 and the forecasted sales for November and December 2020 and January, February and March 2021 are as follows: October November December January 2021 February 2021 March 2021 2020 2020 2020 0.28571 out of 2 points 700 000 720 000 750 000 780 000 800 000 820 000 In the past, 80% of all sales were on credit, and Dynamic Duo Limited expect this trend to continue in the future. The company expects an average of 5% bad debts. Cash is received from credit sales as follows: 40 % in the first month following sale 30 % in the second month following sale 25 % in the third month following sale Complete the following table showng the receivables collection schedule for March 2021 (No Rand signs, no spaces, no cents, no negative signs, no blanks - use a 0 if no cash inflow) Receivables collection schedule for March 2021 October 2020 sales [a] November 2020 sales [b] December 2020 sales [c] January 2021 sales [d] February 2021 sales March 2021 sales [g] TOTAL CASH RECEIVABLE [h]