Don't give answer in image format REQUIREDUse the information provided below to prepare the following for March and April 2024:4.1 Debtors Collection Schedule4.2Cash BudgetINFORMATIONThe following information was provided by BN Traders:1.23.4.4.1425The bank balance on 28 February 2024 is expected to be R100 000 (unfavourable)The sales figures for the first four months of 2024 are expected to be as follows:MarchR1 000 0006.7.8Cash sales usually make up 30% of the total sales. The balance of the sales is on credit. (Separateentries are required for cash sales and collections from credit sales.)Credit sales are normally collected as follows:JanuaryR1 500 00030% in the month of the sale, and these debtors are entitled to a 3% discount65% in the month after the sale9.FebruaryR1 100 000The rest is usually written off as bad debts.Purchases from February to April 2024 are expected to be as follows:MarchR360 000R400 000Cash purchasesCredit purchases10AprilR1 200 000FebruaryR320 000R350 000AprilR480 000R440 000Sixty percent (60%) of the cash purchases is subject to a 10% cash discount Creditors are paid inthe month after the month of purchase (Separate entries for cash purchases and payments tocreditors are required.)The monthly salaries amount to R200 000. This includes the salary of the manager, R50 000. On 01April 2024 the salary of the manager is expected to increase by 8% and the rest of the employees by10%The loan balance is expected to be R360 000 on 01 March 2024. Repayments of R15 000 per monthare made at the end of each month as per the loan agreement. Interest at 12% per annum on theloan balance is also payable at the end of each monthPart of the building is sublet to a tenant. The lease agreement for the year ended 31 March 2024reflected the rental at R144 000 per year payable monthly. The rental will increase by 10% with effectfrom 01 April 2024Other cash operating expenses are expected to total R150 000 for February 2024 These expensesare expected to increase by 5% each month thereafter

Debtors Collection Scheduled :— It is a scheduled that provides net Cash collection from the…

REQUIRED Use the information provided below to prepare the following for March and April 2024: 4.1 Debtors Collection Schedule 4.2 Cash Budget INFORMATION The following information was provided by BN Traders: 1. The bank balance on 28 February 2024 is expected to be R100 000 (unfavourable). The sales figures for the first four months of 2024 are expected to be as follows: 2 March R1 000 000 3. 4. 4.1 4.2 5. 6. 7. 8 Cash sales usually make up 30% of the total sales. The balance of the sales is on credit. (Separate entries are required for cash sales and collections from credit sales.) Credit sales are normally collected as follows: 30% in the month of the sale, and these debtors are entitled to a 3% discount 65% in the month after the sale January R1 500 000 9. The rest is usually written off as bad debts. Purchases from February to April 2024 are expected to be as follows March February R1 100 000 Cash purchases Credit purchases 10 February R320 000 R350 000 April R1 200 000 R360 000 R400 000 April R480 000 R440 000 Sixty percent (60%) of the cash purchases is subject to a 10% cash discount. Creditors are paid in the month after the month of purchase. (Separate entries for cash purchases and payments to creditors are required.) The monthly salaries amount to R200 000. This includes the salary of the manager, R50 000. On 01 April 2024 the salary of the manager is expected to increase by 8% and the rest of the employees by 10% The loan balance is expected to be R360 000 on 01 March 2024. Repayments of R15 000 per month are made at the end of each month as per the loan agreement. Interest at 12% per annum on the loan balance is also payable at the end of each month Part of the building is sublet to a tenant. The lease agreement for the year ended 31 March 2024 reflected the rental at R144 000 per year payable monthly. The rental will increase by 10% with effect from 01 April 2024 Other cash operating expenses are expected to total R150 000 for February 2024 These expenses are expected to increase by 5% each month thereafter