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The following information pertains to X Traders for the three months ended 3 0 June 2 0 2 2 : Actual Budgeted April May June

The following information pertains to X Traders for the three months ended 30 June 2022: Actual Budgeted April May June R R R Sales (20% for cash and 80% on credit)520,000540,000560,000 Purchases (10% for cash 90% on credit)340,000400,000430,000 Salaries and wages paid 50,00060,00070,000 Cash expenses 28,00032,00036,000 Depreciation 2,0002,0002,000 It is expected that debtors will settle their accounts as follows: 20% in the month of sale 70% in the month after the month of sale, and 5% in the second month after the month of sale The remaining 5% is usually written off as bad debts. Trade creditors are paid in the month after the purchases at a discount of 5%.50% of the salaries and wages are weekly wages. Because wages are paid weekly, usually 10% of the wages are paid in the month following the month in which they were incurred. Expenses are paid as they arise. The favourable bank balance on 1 May was R70000. REQUIRED: Prepare the Cash Budget of X Traders for May and June 2022.

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