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with the steps a) Fatema Traders credit sales and purchases in the first three months of the year is estimated as follows: January (AED) February
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a) Fatema Traders credit sales and purchases in the first three months of the year is estimated as follows: January (AED) February (AED) 38000 March (AED) 27000 Credit Sales 42000 18520 Credit Purchases 18520 23870 The expected pattern for receipts from credit sales and payments for purchases is as follows: Month after transaction Following month Receipts from credit 85% 15% sales Payments for purchases 70% 30% A1) Calculate the receipts that would appear in the cash budget for February and March. May February (Dh) March (Dh) April (Dh) (Dh) A2) Calculate the payments that would appear in the cash budget for February and March. February (Dh) March (Dh) April (Dh) May (Dh)Step by Step Solution
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