Question 4 (25 Marks) Quail Limited is a retail distributor for computer hardware, related software and support services. The management accountant has prepared sales budgets for the first semester of 20x20. These are presented below: Total Sales R550 000 R500 000 Month January February March April May June R480 000 R400 000 R425 000 R600 000 Cash sales amount to 25% of the total sales. Collections of the credit sales are as follows: 40% in the month of sale and it is subject to a 4% discount 30% one month after the month of sale 28% two months after the month of sale 2% in uncollectable Quail Limited's inventory requirements are equal to 30% of the next month's sales. Th purchasers' terms of payment require a down payment of 45% and the balance is payable 3 days thereafter. July's total sales are expected to be R620 000. Quail Limited had a ba overdraft of R150 000 on 1 May 20x20. Required: Prepare a cash budget for Quail Limited by month for May and June 20x20. Show all calculations. use Search you want .: When you on cput libraries Website and an overview of all available books, e Books, online journal articles etc... Which one Ithree filters should you select