Collections from customers are normally $69$ percent in the month of sale, $16$ percent in the month following the sale, and $13$ percent in

the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes

full advantage of the $5$ percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are

budgeted at $$62,000,$ and sales for August are forecasted at $$68,000.$ Cash disbursements for expenses are expected to be $$14,000$

for the month of August. The company's cash balance on August $1$ was $$25,000.$

Required:

Prepare the expected cash collections during August.

Prepare the expected cash disbursements during August.

Calculate the expected cash balance on August $31.$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare the expected cash collections during August.