Study the informalien provided be ow and

$3\mathrm{.}1$ Deblors Colection Schedula

$(4$ marks$)$

$3\mathrm{.}2$ Cash Budget

$(16$ marks$)$

INFORMATION

Gamvile Limted is in the process of developing a cash budgel for July and August $2024.$ The folowing inforration is available:

Expected sales from May to August $2024$ are as follows:

$\backslash$table$[[$May$,$R$750000],[$Juse$,$R$8500000],[$Juy$,$R$1500000],[$August$,$R$10000000]]$

Hstoricaly $70\%$ of the corpany's sales has been on cash and the rest on credit. Twenty percent $(20\%)$ of the cash sales is sutject to a discount of $10\%.$

Sary percent $(60\%)$ of the credit sales is usualy colected h the month atter the sales, thirty five percent $(35\%)$ is colected two months after the sale and the balance is written ofl as bad debts.

During August $2024$ the compary expects to receive a dividend of & cents per share on the $70000$ shares that a holds in Carry Limited.

The compary's purchases of irventory are estraled to be $60\%$ of sales. Thirty percent $(30\%)$ is paid in cash and a dscount of $10\%$ is receivable. The balance is pad in the month after the purchase. $($Separath enmes are requred for the cash purchases and payments for credit purchases.$)$

The monthly rortal, payable at the end of each month, wil increase by $10\%$ with alfect from $01$ August $2024.$ The remal perable on $31$ August is R$26400.$

The firod salary cost for $2024$ is R$420000$ and is paid evenly every month.

Interest on loan for two monihs at a rate of $15\%$ per year is payable on the loan balance of R$150000$ during August $2024.$

New machinery wih a cost price of R$450000$ wil be purchased and paid for during July $2024.$

Other cash operating expenses are forocast at R$200000$ for June $2024$ and are expectod Io increase by $5\%$ each month.

Cash in the bark on $30J$ ine $2024$ is expected to amount to R$20000.$