Complete the Debtors Collection Schedule (A and B) for the month of November 2018. In your answer book, the credit sales amounts are provided on the answer sheet.

According to the debtors collection period, 20% of sales are collected in the month following the sale. November is the month following October.

$$A = \text{October Credit Sales} \times 20\%$$ $$A = \text{R}265\,000 \times 0.20$$ $$A = \text{R}53\,000$$

According to the debtors collection period, 10% of sales are collected within the same month as the sale, subject to a 2% discount.

$$B = \text{November Credit Sales} \times 10\% \times (1 - \text{Discount Rate})$$ $$B = \text{R}456\,000 \times 0.10 \times (1 - 0.02)$$ $$B = \text{R}456\,000 \times 0.10 \times 0.98$$ $$B = \text{R}45\,600 \times 0.98$$ $$B = \text{R}44\,688$$

The completed values are:

• A = R53 000
• B = R44 688