EX $9-26($Algo$)$ Cash Budgeting $($LO $9-3,9-5)$ Required $1$

Required $2$

Required $3$

Prepare the expected cash collections during August. Required $1$

Required $2$

Required $3$

Prepare the expected cash disbursements during August. Calculate the expected cash balance on August $31.$

The following information is from Tejas WindowTint's financial records.

Collections from customers are normally $67$ percent in the month of sale, $17$ 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 $2$ percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are

budgeted at $$61,000,$ and sales for August are forecasted at $$67,000.$ Cash disbursements for expenses are expected to be $$14,600$

for the month of August. The company's cash balance on August $1$ was $$36,000.$

Required:

Prepare the expected cash collections during August.

Prepare the expected cash disbursements during August.

Calculate the expected cash balance on August $31.$

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Prepare the expected cash collections during August.