The owner of Tiger Trading Ltd. has approached you to help her to prepare schedule of cash collections for April 20X9. To assist your task, she has provided you with the following information: Actual sales . January: $50,000 February : $50,000 March : $60,000 Budgeted Income Statement for the month ending 20X9 30-Apr 31-May 30-Jun $ $ $ Sales 60,000 70,000 80,000 LESS: Cost of Sales 30,000 35,000 40,000 GROSS PROFIT 30,00 LESS EXPENSES: Salaries/Wages 10,00 General Expenses 15,00 Depreciation 3,0C TOTAL EXPENSES 28,00 NET PROFIT 2,000 -O ADDITIONAL INFORMATION: - Sales Of their total sales, 80% are credit sales and 20% are cash sales. -60% of debtors pay in the month following the sale - 30% of debtors pay in the second month following the sale - 10% of debtors pay in the third month following the sale Prepare a Schedule of Cash Collections for the month of April 20X9. Your answer B 1 III TIT