Question-4 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. Cash sales Credit sales 6. 7. January R320 000 R370 000 20% is collected two months after the sale. 4. Purchases of inventory are expected to be as follows: January February R410 000 R460 000 9. February R370 000 R390 000 Total purchases March R310 000 R320 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 collected in the month after the sale. April R250 000 R300 000 March R400 000 5. Sixty percent (60%) of the purchases is for cash to take advantage of a discount of 15%. The balance is purchased on credit. Creditors are paid two months after the month of purchase. (Separate entries for cash and credit payments are required.) The proprietor's monthly drawings comprise R12 000 inventory and R10 000 cash. April R380 000 The monthly salaries are expected to amount to R194 400 for April 2024 after an increase of 8% takes effect on 01 April 2024. 8. A fixed deposit, R100 000, will mature (expire) on 31 March 2024. Interest at 12% per annum for three months will also be received. Equipment with a cost price R160 000 will be purchased on 31 March 2024. A deposit 25% will be paid on this date. The balance will be paid in four equal monthly instalments commencing 30 April 2024. 10. Other cash operating expenses are expected to amount to R160 000 for February 2024 and are expected to increase by 5% each month thereafter.

Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided, In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: • June 1 cash balance $14,800. • June 1 supplies on hand $4,000. • June 1 accounts receivable $8,300. • June 1 accounts payable $3,900. · Estimated sales for June, July, and August are $24,900, $37,400, and $39,900,…

QUESTION 4 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: January February March April Cash Sales R320 000 R370 000 R310 000 R 250 000 Credit Sales R370 000 R390 000 R320 000 R300 000 3. 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 collected in the month after sale 20% is collected two months after the sale 4. Purchases of inventory are expected to be as follows: January February March April Total Purchases R410 000 R460 000 R400 000 R380 000 5. Sixty percent (60) of then purchases is for cash to take advantage of a discount of 15%. The balance is purchased on…

K Video Brian's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements: (Click the icon to view the information.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and totals for January and February combined. 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28? Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show totals for each month and totals for January and February combined. Brian's Restaurant Supply Cash Collections Budget For the Months Ended January 31 and February 28 Cash sales Collection on credit sales Total cash collections January More info a. Sales are 60% cash and 40% credit. Credit sales are…