QUESTION $4$ REQUIRED Use the information given below to prepare the following for the first three months of operations $($i$.$e$.$ January, February and March $2025)$: $4\mathrm{.}14\mathrm{.}2$ Debtors Collection Schedule Cash Budget INFORMATION $(6$ marks$)(14$ marks$)$ The following information relates to Crompton Manufacturers which will commence business on $01$ January $2025$ with a capital contribution of R$400000$ cash: $1.$ A loan of R$200000$ is expected to be obtained from Len Bank on at the start of January $2025.$ A repayment of R$5000$ per month plus interest at a rate of $12\%$ per year will be paid at the end of each month, commencing January $2025.2.3.4.5.6.$ New machinery and equipment will be purchased on $02$ January $2025$ for R$180000.$ A deposit of $20\%$ will be paid immediately. The balance of the debt as well as finance charges of R$16000$ will be paid in $10$ equal monthly instalments commencing February $2025.$ Estimated production and sales are as follows: Production $($units$)$ January Sales $($units$)4000$ February $300010000$ March $900014000$ April $120001700014000$ The sales price will be set at R$40$ per unit. Cash sales are expected to comprise $70\%$ of the total sales. A cash discount of $10\%$ will be granted to these customers. The balance of the sales will be on credit. Thirty percent $(30\%)$ of the amount owing is expected to be received in the month of the sale and a discount of $2\mathrm{.}5\%$ will be granted to these customers. The balance is expected to be collected the month after the sale. Variable manufacturing costs per unit are forecast as follows: Direct materials Direct labour R$16$ Overheads R$9$ R$7$ Direct materials will be purchased on credit to meet the production requirements of each month. Creditors are expected to be paid in the month after the purchase. Direct labour costs are settled monthly. $7.8.9.$ Variable manufacturing overheads will be paid in the month in which they are incurred. Fixed costs amount to R$30000$ per month $($excluding depreciation of R$1500$ per month$)$ and are paid monthly.