QUESTION ONE

REQUIRED

Use the information provided to prepare the following for Compuman Limited for August and

September $2026$:

$1\mathrm{.}1$ Debtors Collection Schedule

$1\mathrm{.}2$ Cash Budget

INFORMATION

Compuman Limited sells laptops.

$1.$ The bank balance on $31$ July $2026$ is expected to be R$45000($favourable$).$

$2.$ Forty percent $(40\%)$ of all sales are for cash; the balance is on credit. Credit sales for June and July

$2026$ are expected to be R$300000$ and R$330000$ respectively. Sales are expected to increase by

$10\%$ each month. Thirty percent $(30\%)$ of the credit sales are expected to be settled during the

month of the sale for a discount of $5\%.$ The remaining customers usually pay in the month after the

sale.

$3.$ All laptops are purchased on credit and creditors are paid in the month after the purchase.

Purchases are expected to be as follows:

July R$400000$

August R$450000$

September R$500000$

$4.$ Salaries and wages are expected to cost R$86400$ for September $2026,$ after an $8\%$ increase takes

effect on $01$ September $2026.$

$5.$ Advertising expenses are expected to be $5\%$ of the total monthly sales and are paid one month later.

$6.$ Equipment costing R$300000$ is expected to be purchased during August $2026.$ A deposit of $20\%$ will

be paid in August and the balance is payable in $5$ monthly equal instalments commencing September

$2026.$

$7.$ A long$-$term loan of R$200000$ at $12\%$ per annum interest is to be raised on $01$ September $2026.$

Interest is payable monthly in advance with the first interest payment to be made on $01$ September

$2026.$

$8.$ Other cash expenses are expected to amount to R$50000$ for July $2026.$ These expenses are

expected to increase by $5\%$ each month.

$9.$ An interim dividend of $6$ cents per share is expected to be paid on $31$ August $2026.$ The issued share

capital of Compuman Limited consists of $400000$ shares.