Use the information provided below to prepare the following for January and February 2023: 4.1 4.2 Debtors Collection Sc

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Use the information provided below to prepare the following forJanuary and February 2023:
4.1 4.2
Debtors Collection Schedule
Cash Budget
INFORMATION
The following information was provided by Intel Enterprises:
The bank balance on 31 December 2022 is expected to be R40 000(unfavourable).
Credit sales are expected to be as follows:
December 2022
January 2023
February 2023
R576 000
R540 000
R648 000
Credit sales usually make up 40% of the total sales. Cash salesmake up the balance. Cash customers receive a 10% discount.
Credit sales are normally collected as follows:* 30% in the month in which the transaction takes place, and thesecustomers are entitled to a 5% discount. * 65% in the followingmonthThe rest is usually written off as bad debts.
Budgeted purchases of inventory are as follows:
December 2022
January 2023
February 2023
R1 000 000
R800 000
R920 000
6. Fifty percent (50%) of the purchases are for cash. Theremainder is paid in the month after the purchase.
The monthly salaries amount to R150 000. Salaries are expectedto increase by 9% with effect from 01 February 2023 for thoseemployees who presently make up 80% of the salary bill. Thesalaries of the remaining 20% are expected to increase by 6%.
Interest at 18% per annum on the loan balance is paid at the endof each month. The loan balance on 31 December 2022 was R400 000and a capital repayment of R100 000 will be made on 01 February2023.
Part of the building is sublet to a tenant and rent is collectedmonthly. The lease agreement for the year ended 31 January 2023reflected the rental as R180 000 per annum. The rental willincrease by 10% with effect from 01 February 2023.
Other operating expenses are budgeted at R40 000 per month. Thisamount includes R5 000 for depreciation. Operating expenses arepaid for in the month in which they are incurred.