Use the information provided below to prepare the following for May and June 2025: Debtors Collection Schedule Cash Budget. The following information was provided by Lewis Traders:1. An unfavourable bank balance of R40 000 is expected on 30 April 2025. 2. Budgeted credit sales for April to June 2025 are as follows: April R420 000 May R372 000 June R432 000 3. Credit sales are estimated to be 60% of the total sales. The balance of the sales is for cash. Customers who purchase for cash are entitled to a discount of 10%.4. Collections from credit sales are expected to be as follows:• 30% during the month of sale (These debtors receive a 5% discount.)• 70% in the following month.5. Budgeted purchases of inventories from April to June 2025 are as follows: April R360 000 May R320 000 June R400 000

Use the information provided below to prepare the following for May and June 2025: Debtors Collection Schedule Cash Budget. The following information was provided by Lewis Traders:1. An unfavourable bank balance of R40 000 is expected on 30 April 2025. 2. Budgeted credit sales for April to June 2025 are as follows: April R420 000 May R372 000 June R432 000 3. Credit sales are estimated to be 60% of the total sales. The balance of the sales is for cash. Customers who purchase for cash are entitled to a discount of 10%.4. Collections from credit sales are expected to be as follows:• 30% during the month of sale (These debtors receive a 5% discount.)• 70% in the following month.5. Budgeted purchases of inventories from April to June 2025 are as follows: April R360 000 May R320 000 June R400 000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 33E: A companys controller is adjusting next years budget to reflect the impact of an expected 3 percent...

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REQUIRED Use the following information provided by Ashton Enterprises to prepare the: Debtors Collection Schedule for January and February 2021. 5.1 5.2 Cash Budget for January and February 2021. Note: Where applicable, round off amounts to the nearest Rand. INFORMATION 1. The bank balance on 31 December 2020 is expected to be R40 000 (favourable). 2. Expected credit sales are as follows: December 2020 January 2021 February 2021 R360 000 R390 000 R420 000 3. Credit sales usually make up 60% of the total sales. Cash sales make up the balance. Credit sales are normally collected as follows: 20% in the month in which the transaction took place. These debtors are entitled to a 5% discount. 4. 75% in the following month. The rest is usually written off as bad debts.
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Please draft a budgeted receipt schedule from debtors for the period of 1 January 2023 to 30 June 2023. Month of 2023 Budgeted total sales: 1. January 140 000 2. February 132 000 3. March 128 000 4. April 115 000 5. May 120 000 6. June 150 000 Additional information: Total sales for September 2022, October 2022, November 2022 and December 2022 were R 120 000, R128 000 and R134 000 and R140 000 respectively. The goods sold on credit were 60% of actual sales. Customers will pay their debt as follows: . ⚫ 0% in the first month after the month of sale • 60% in the second month after the month of sale • 30% in the third month after the month of sale 10% in the fourth month after the month of sale
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