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QUESTION 5 REQUIRED Use the following information provided by Harvard Enterprises to prepare the: 5.1 Debtors Collection Sche

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5.1)
Debtors Collections Schedule for March and April 2021:
March April
From February Credit sales (R120,000*65/100) R78,000
From March Credit sales (R192,000*30/100); (R192,000*65/100) R57,600 R124,800
From April Credit sales (R140,000*30/100) R42,000
Total Debtors Collections from Credit sales R135,600 R166,800
5.2)
Cash Budget March April
Beginning balance R50,000 R76,260
Add: Cash Receipts:
From Credit sales R135,600 R166,800
From Cash sales R288,000 R360,000
Interest Receivable R1,000 R1,000
Total Cash Available (a) R474,600 R604,060
Less: Cash Disbursements:
Cash purchases (R228,000*20/100); (R248,000*20/100) R45,600 R49,600
Credit Purchases (R210,000*80/100); (R180,000*80/100) R168,000 R144,000
Investment in fixed assets R150,000 -
Rent Expense (R288,000/12 months) R24,000 R24,000
Wages Expense (R8,400*110/100); (R9,240*105/100) R9,240 R9,702
Purchase of New Machinery - R25,000
Commissions R1,500 R2,400
Total Cash Disbursements (b) R398,340 R254,702
Ending Cash Balance (a - b) R76,260 R349,358
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