Question $3$

$[35$ Marks$]$

Debtor collection may not always be as strict as one may expect. Companies' debtors

usually do not pay as per corporate rules. Some customers may pay sooner than

others. Before creating a cash flow budget, it is prudent to create a schedule of

projected collections from debtors.

Neutrina Communications Network anticipates the following levels of revenue for the

first six months of $2023$ :

Additional information:

Total sales for September $2022,$ October $2022,$ November $2022$ and December $2022$

were R$120000,$ R$128000$ and R$134000$ and R$140000$ respectively. The goods sold

on credit were $60\%$ of actual sales.

Customers will pay their debt as follows:

$0\%$ in the first month after the month of sale

$60\%$ in the second month after the month of sale

$30\%$ in the third month after the month of sale

$10\%$ in the fourth month after the month of sale

Required:

Draft a budgeted receipt schedule from debtors for the period of $1$ January $2023$ to

$30$ June $2023.$