Use the following information to answer questions 23 to 30. Inorder to ascertain clarity on how much cash Musa (Pty) Ltd needseach month, complete the cash budget using the information below.Sales (in rand) are as follows:

:June	July	August	September	October	November
950 000	1 100 000	1 300 000	1 450 000	1 600 000	1 850 000

Of the company’s sales, 40% are done in cash. Credit sales arecollected as follows: ?

40% during the month of sale ?

20% during the first month following the month of sale ?

20% during the second month following the month of sale ?

20% during the third month following the month of sale

Purchases are as follows:

June	July	August	September	October	November
530 000	600 000	300 000	715 000	880 000	1 000 000

All purchases are on credit and are paid as follows: ?

40% during the month of purchase ?

30% during the first month following the month of purchase ?

15% during the second month following the month of purchase?

15% during the third month following the month of purchase

Other information ?

Salaries and wages of R100 000 are paid monthly ?

Rent of R50 000 on a monthly basis ?

Interest on debt of R4 000 each month

Major maintenance on machines and plant amounting to R1 500 000in October was undertaken. ?

Depreciation costs of R20 000 is charged on a monthly basis?

At the beginning of September, the business will have R50 000 incash ?

The management of the company has a policy of maintaining R50 00minimum cash balance.

Requirements:

Compile the cash budget for Musa (Pty) Ltd for the months ofSeptember, October and November. Also indicate the financing neededto maintain the minimum cash balance and meet the operationalrequirements.

Question 23

Calculate the total credit sales collected for October.

1. R846 000

2. R896 000

3. R950 000

4. R986 000

Question 24

Calculate the opening balance for October.

1. R430 000

2. R585 800

3. R680 500

4. R720 200

Question 25

Calculate the total credit purchases collected forSeptember.

1. R360 000

2. R460 000

3. R520 500

4. R545 500

Question 26

Calculate the total credit sales collected for November.

1. R566 000

2. R700 000

3. R966 000

4. R975 000

Question 27

Calculate the financing required for October.

1. R239 000

2. R397 500

3. R405 000

4. R515 000

Question 28

Calculate the financing required for November.

1. R154 000

2. R297 500

3. R496 750

4. R515 000

Question 29 Calculate the cash sales for September. 1. R340 0002. R580 000 3. R650 000 4. R700 000 .

Question 30 Calculate the credit purchases for June that werecollected in September. 1. R114 000 2. R140 000 3. R160 000 4. R170000