THE FOLLOWING INFORMATION OF AGRICOOL HAS BEEN MADE AVAILABLE

BALANCE SHEET AS AT MARCH $2024$

ASSETS

Non$-$Current Assets $200000$

Property plant and equipment $200000$

Current Assets $605000$

Inventories $240000$

Debtors $361000$

Bank $4000$

Total Assets $805600$

EQUITY AND LIABILITIES

Equity $693600$

Capital $693600$

Current liabilities $112000$

Creditors $112000$

Total equity and liabilities $805600$

Additional information

Rent amounts to R$240000$ per annum and is payable monthly.

Selling and administration expenses are estimated to be $25\%$ of sales and are payable

in the same month as the sale

The gross profit percentage on sales is $60\%$

Depreciation on fixed assets for the year amount to R$28000$

Cash sales account for $20\%$ of total sales. Credit sales $(80\%)$ are usually collected as

follows :

$80\%1$ month after sale

$20\%2$ months after sale

Thirty percent $(30\%)$ of all purchases are for cash. The total purchases are as follows

March April May June

R$160000$ R$168000$ R$152000$ R$144000$

Creditors are paid in full in the month after the purchase

All other expenses are paid monthly and are expected to amount to R$22000$ per month

Total sales $($actual and budgeted are $)$

Actual Budgeted

January February March April May June

Total sales R$320000$ R$260000$ R$400000$ R$420000$ R$380000$ R$360000$

Required

Prepare a monthly cash budget for April, May and June $2024($Show debtors and payment to

creditors schedule$)$