REQUIRED Use the information provided by Empire Traders to prepare the following for March and April...
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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 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: 3. (4 marks) (16 marks) January February March Cash sales R320 000 R370 000 R310 000 April R250 000 Credit sales R370 000 R390 000 R320 000 R300 000 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 collecte in the month after the sale. 20% is collected two months after the sale. Purchases of inventory are expected to be as follows 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 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: 3. (4 marks) (16 marks) January February March Cash sales R320 000 R370 000 R310 000 April R250 000 Credit sales R370 000 R390 000 R320 000 R300 000 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 collecte in the month after the sale. 20% is collected two months after the sale. Purchases of inventory are expected to be as follows
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