QUESTION $2$ The information provided below relates to Prague Enterprises. $1.$ The bank balance on $31$ May $2016$ was R$9000$ unfavourable. $2.$ Actual and budgeted sales are as follows: R Cash sales are estimated at $10\backslash \%$ of total sales. Debtors are expected to settle their accounts as follows: $-\backslash (70\backslash \%\backslash )$ during the month of sale $($These debtors receive a $5\backslash \%$ discount.$)\backslash (-30\backslash \%\backslash )$ in the following month. $3.$ Actual and budgeted purchases for each month are as follows: R May $2016240000$ June $2016200000$ July $2016220000$ Fifty percent $(\backslash (50\backslash \%\backslash ))$ of all purchases are for cash. Creditors are paid in full in the month following the purchase transaction. $4.$ Rent expense amounts to R$19000$ per month, payable monthly. Rent will increase by $\backslash (10\backslash \%\backslash )$ from $01$ July $2016.5.$ Variable selling and administrative expenses are estimated at $\backslash (25\backslash \%\backslash )$ of sales. They are payable during the month of sale. $6.$ Insurance amounts to R$72000$ per annum payable monthly. $7.$ The proprietor intends to make the following drawings during July $2016$: $-$ Cash R$17000-$ Trading merchandise, R$8000.$ Required: $2\mathrm{.}1$ Prepare a Debtors collection schedule for June and July $2016.2\mathrm{.}2$ Prepare the Cash budget for June and July $2016.$ Note: Where applicable, round off all amounts to the nearest Rand.