Check my The following information is from Tejas WindowTint's financial records. Month April May June July Sales $78,000 72,000 63,000 83,000 Purchases $61,000 43,000 31,000 49,000 Collections from customers are normally 67 percent in the month of sale, 18 percent in the month following the sale, and 14 percer the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management take full advantage of the 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August budgeted at $64,000, and sales for August are forecasted at $70,000. Cash disbursements for expenses are expected to be $16, for the month of August. The company's cash balance on August 1 was $30,000. Required: 1. Prepare the expected cash collections during August. 2. Prepare the expected cash disbursements during August. 3. Calculate the expected cash balance on August 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the expected cash collections during August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the expected cash collections during August. TEJAS WINDOW TINT Expected Cash Collections August Month Sales Percent Expected Collections % % % Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the expected cash disbursements during August. TEJAS WINDOW TINT Expected Cash Disbursements August July purchases to be paid in August Net Cash disbursements for expenses Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the expected cash balance on August 31. TEJAS WINDOW TINT Expected Cash Balance August 31 Balance, August 1 Expected balance