TASK 4 20 The budgeted credit sales of Mafuta traders for the first half of 2009 are expected as follows: table[[Month of 2009,Budgeted credit sales R],[January,60000],[February,70000],[March,84000],[April,72000],[May,64000],[June,50000],[,]] Debtors are expected to pay their debts as follows: 70% in the month of sale 20% in the second month follo solutionspile.com

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TASK 4 20 The budgeted credit sales of Mafuta traders for the first half of 2009 are expected as follows: \table[[Month of 2009,Budgeted credit sales R],[January,60000],[February,70000],[March,84000],[April,72000],[May,64000],[June,50000],[,]] Debtors are expected to pay their debts as follows:

70%

in the month of sale

20%

in the second month following the month of sale

7%

in the third month following the month of sale

3%

is written off as irrecoverable Credit losses are written off at the end of the month in which the last instalment is received. Debtors amounted R179200 on 1 January 2009. Credit sales for October 2008, November 2008 and December 2008 were R56000, R60000 and R66000 respectively. Required: Draft a schedule showing the amounts which Mafuta traders will receive from debtors each month from 1 January 2009 to 30 June 2009 .

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