QUESTION $4(30$ MARKS$)$ The following information for the $2024$ financial year is available for Skybolt Ltd: $$ March April May June July August Cash Sales $120000127000110000135000140000115000$ Credit Sale $280000297000150000178000182000139000$ Purchases $200000212000130000156500161000127000$ Salaries and Wages $530005700060000580005500058000$ Other expenses $150001750018500180001900021500$ Additional information: $($a$)$ Credit sales are collected as follows: $40\%$ within $30$ days $($the next month$)40\%$ within $60$ days $10\%$ within $90$ days $10\%$ uncollectible $($bad debt$)($b$)$ The following discount is given on sales: $5\%$ on all cash sales $10\%$ on credit sales paid within $30$ days $($c$)$ Purchases are made in cash and receive a discount of $5\%.($d$)$ Wages make up $40\%$ of the salaries and wages line and is paid in cash. Salaries are paid on the $1$st of the following month. $($e$)$ Other expenses include depreciation of R$4000$ per month. The rest of other expenses is split equally between rent always paid in advance on the $1$st of the month and water and electricity which is paid by the $7$th of the following month. $($f$)$ A dividend of R$200000$ will be declared on $31$ July $2024,$ expected to be paid by $31$ August. $($g$)$ The bank balance on $1$ June $2024$ is R$200000.$