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Question - B Ltd. has given you the following information to prepare its cash budget for December 20XX.
Below is a summary of the past and expected future sales (all values in R):
October November December
R80,000 R70,000 R100,000
50% of sales are on credit.
40% of credit sales are collected in the month of sale and the remainder in the month thereafter.
Purchases amount to 60% of sales.
All purchases are on credit.
50% of purchases are paid in the first month following the month of purchase and the remainder is settled in the second month after the month of purchase.
Required - What amount of purchases would be paid in December?
A. R60,000
B. R24,000
C. R21,000
D. R45,000
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