You are employed as the cost accountant of Supreme Technologies (Pty) Ltd and your company operates warehouses in all provinces of South Africa. Management expects the next three months from January to March 2020 to demand some unusual cash flows. A cash balance of R 120 750 is currently on hand. 1. Sales for December 2019: R 1450 400 2. Total sales forecasts are: January 2020 R 680 000 February 2020 R 950 000 March 2020 R 800 200 April 2020 R 892 800 3.50% of all sales are on credit. All debtors pay in the month following the month of sales 4. The cost of goods sold averages 75% of sales. Inventory purchased during each month averages the cost of sales for the following month. The creditor payment period averages 15 days and goods are purchased consistently over the month. 5. Operating expenses are projected as follows: Salaries and wages at 12% of sales paid in the month of the sale. April 2020 R 892 800 3.50% of all sales are on credit. All debtors pay in the month following the month of sales 4. The cost of goods sold averages 75% of sales. Inventory purchased during each month averages the cost of sales for the following month. The creditor payment period averages 15 days and goods are purchased consistently over the month. 5. Operating expenses are projected as follows: Salaries and wages at 12% of sales paid in the month of the sale. Other expenses at an average of 10% of sales are paid in the month of the sale. Cash receipts expected from repayment of a loan to an employee of R22320 due in March 2020 Repayment of a short-term loan of R 11 160 is due in March 2020. Repayments of long-term loans are due at R 14 880 each in January and March 2020. . A new refrigerator was purchased for R 178 560 and four payments of R50640 each are due in February, March, April and May 2020. Depreciation on all equipment is written off at a rate of R25 000 per month. Interest income from an investment of R16 228 per month is expected. A bonus of R230 300 is due to staff in January 2020. The company must pay tax to SARS in March 2020, R64080 Please Note: you will need to prepare a schedule of budgeted receipts of Prime Technologies (Pty) Ltd for the months of January, February, and March 2020 before attempting to answer the questions below: Calculate the cash sales for March 2020 O A. R 600 100 O B.R 200 100 O C. R 400 100 O D.R 800 100 Question 32 In which month did the company attain the highest amount of cash sales? O A. March O B.February O C. January O D. April What is the difference between credit sales for February and credit sales for March 2020? O AR 70 900 OB.R65 900 O C.R74900 O DR 60 900 Question 34 How much did the company earn in total receipts from January to March 2020? O AR2755 300 O BR2955 300 O CR2455 300 ODR2 255 300