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Question 2 [25 marks] Diamond (Pty) Ltd has a sales budget for March of R440,000. About 10% are cash sales and the remainder

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Schedule of Cash Receipts for March Month
Particulars Amount
March cash sales 44000
March credit sales 237600
February credit sales 72000
January credit sales 18000
Total received in March month 371600

Schedule of Cash Payments

Particulars Amount March purchases 87500 February purchases 85000 January purchases 19500 Salaries 45000 Utilities 4300 Rent 9000 Insurance 3000 Advertising cost 1000 Total cash payment 254300
Schedule of Cash Budget for March
Particulars Amount
Opening Cash balance 5400
Cash receipts 371600
Cash available 377000
Cash payments 254300
Closing Cash balance 122700
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