TASK 10.17 
Easup Bargain Bazaar: Debtors and Creditors Schedules and Cash Budget
10.17.1 EASUP BARGAIN BAZAAR
DEBTORS COLLECTION SCHEDULE: 1 OCTOBER 20.8 - 31 DECEMBER 20.8
August
Septem
October
November
ber
Total sales
90 000
80 000
75 000
110 000
Cash sales
90 000 x
60 / 100
54 000
90 000
x40 /100
36 000
Credit sales
December
150 000
60%
48 000
50%
37 500
50%
55 000
30%
45 000
40%
32 000
50%
37 500
50%
55 000
70%
105 000
36 000 x
20%
Debtors’ collections
August
September
October
[20%]
[35%; 20%]
7 200
32 000 x
35%
11 200
37 500 x
40%
15 000 2.5%(375)
14 625
[40% less 2½%; 35%; 20%]
November
[40% less 2½%; 35%]
December
[40% less 2½%]
32 000 x
20%
6 400
37 500 x
35%
13 125
55 000 x
40% 22 000
– 2.5%(550)
21 450
37 500 x 20%
7 500
55 000 x 35%
19 250
105 000 x 40%
42 000 – 2.5%
(1 050)
40 950
Cash receipts from debtors
33 025
40 975
67 700
CREDITORS PAYMENTS SCHEDULE: 1 OCTOBER 20.8 - 31 DECEMBER 20.8
New Era Accounting: Grade 11
367
Teacher’s Guide