QUESTION 4 REQUIRED Use the information provided by Empire Traders to prepare the following for March and April 2024: 4.1 Debtors Collection Schedule 4.2 Cash Budget. INFORMATION (20 Marks) (4 marks) (16 marks) The following information was provided by Empire Traders: 1. Empire Traders expects to have a favourable bank balance of R60 000 on 28 February 2024. 2. Budgeted sales figures for 2024 are as follows: January February March April Cash sales R320 000 R370 000 R310 000 R250 000 Credit sales R370 000 R390 000 R320 000 R300 000 3. 4. Thirty percent (30%) of the cash sales is to informal traders who are entitled to a discount of 10%. Collections from debtors are usually as follows: 80% is collected in the month after the sale. 20% is collected two months after the sale. Purchases of inventory are expected to be as follows. January February March April Total purchases R410 000 R460 000 R400 000 R380 000