Question: Use the information provided below to prepare the following for January and February 2024: 3.1 Debtors Collection Schedule 3.2 Cash Budget INFORMATION The following

Use the information provided below to prepare the following for January and

Use the information provided below to prepare the following for January and February 2024: 3.1 Debtors Collection Schedule 3.2 Cash Budget INFORMATION The following information supplied by Orbit Enterprises: 1. Orbit Enterprises expects to have an unfavourable bank balance of R36 000 on 31 December 2023. Expected sales are as follows: 2. November 2023 December 2023 3. 4. January 2024 February 2024 Credit sales account for 60% of the total sales. The rest of the sales is for cash. The amounts owed by debtors are usually collected as follows: 20% is collected in the same month as the credit sales for a 2% cash discount. 75% is collected in the month after the sale. 5% is written off as bad debts. (4 marks) (16 marks) R400 000 R500 000 R440 000 R460 000

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