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QUESTION 3 BUDGETS Dessert Enterprises appoints you as their financial consultant. You are required to ascertain the cash position of the business. The following projections have been made for 2020: Additional information: 1. Collection of credit sales: 30% in the month of the sale 50% one month after the sale 20% two months after the sale. 2. Credit purchases are paid one month after the purchases. 3. Rent expenses amount to R8 000 per month and is payable on the first day of each month. 4. Wages are R6 500 per month, and will increase to R7 000 on 1 July 2020. 5. A new laptop computer is expected to be purchased for R10 000 cash in June 2020. 6. The expected bank balance on 30 April 2020 is R17 000 unfavourable. REQUIRED: 3.1 Debtors collection schedule for May, June and July 2020. 3.2 Cash Budget Statement for the three months ending 31 July 2020. Note: All Answers must be typed out and workings must be shown QUESTION 3 BUDGETS Dessert Enterprises appoints you as their financial consultant. You are required to ascertain the cash position of the business. The following projections have been made for 2020: Additional information: 1. Collection of credit sales: 30% in the month of the sale 50% one month after the sale 20% two months after the sale. 2. Credit purchases are paid one month after the purchases. 3. Rent expenses amount to R8 000 per month and is payable on the first day of each month. 4. Wages are R6 500 per month, and will increase to R7 000 on 1 July 2020. 5. A new laptop computer is expected to be purchased for R10 000 cash in June 2020. 6. The expected bank balance on 30 April 2020 is R17 000 unfavourable. REQUIRED: 3.1 Debtors collection schedule for May, June and July 2020. 3.2 Cash Budget Statement for the three months ending 31 July 2020. Note: All Answers must be typed out and workings must be shown