1. On 31 March 2016 the bank account in the general ledger reflected a debit balance of R40 000. 2. Sales figures before taking any discounts in respect of cash or credit sales are:

March R

April R

May R

JuneR Cash Sales 60 000 68 000 64 000 70 000 Credit Sales 42 000 36 000 32 000 40 000

1. The following discounts are given as incentives to customers:

Cash discount of 12%;

settlement discount of 5% on credit sales if accounts are settle 30 days after the sales.

2. Collections from debtors are expected as follows: 50% 30 days after the sale 30% 60 days after the sale 18% 90 days after the sale 2% written off after 90 daysPrepare the debtors collection schedule for the period 01 April to 30 June 2016.

Answer rating: 100% (QA)

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