The following information applies to questions 46 and 47
The following tables show the sales and raw materials purchases budgets of Plooki Limited for the final quarter of 2021:
Month
October
November
December
Sales (units)
3,900
4,300
4,800
Sales ($)
66,300
73,100
84,000
Month
October
November
December
Purchases (kg)
4,000
4,400
5,000
Purchases ($)
32,000
37,400
42,500
Plooki collects 39% of accounts receivable in the month of sale, 60% in the following month, and 1% are expected to go bad. Customers who pay within the first month of sale receive a 1% discount. Plooki settles 48% of its accounts payable in the month of purchase, and the remainder in the following month.
Question 46 (2 marks):
What is the total amount of cash expected to be received during November?
Question 47 (2 marks):
What is the total amount of cash expected to be paid for raw materials during November?