Question 4

What would the receipts from credit sales that took place in December 2023 be, in the month of January 2024? (Ie. The collection on credit sales that took place in December 2023, in January 2024.)

What are the total collections from credit sales in March?

What would the closing balance for June be, if the opening balance for June is -R53 500?

USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 4 TO 6. Whittle Ltd is preparing a cash budget for the first six months of the coming year, 2024. The company's financial manager has pulled all the cash sales and income from the past year (2023) and adjusted them for the expected growth in the coming year already and calculated net cash flows for each month, except for collections from credit sales. The system however does not do credit collection estimates, however an ageing report has been generated. Credit sales over the last four months of 2023 were as follows: Credit sales for the first 6 months of 2024 were estimated as follows: The ageing analysis indicates that on credit sales, payments are usually made as follows for any given month's sales: The net cash flows for the first six months of 2024 excluding the credit collections were estimated as follows: The cash balance at the start of January is RO