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

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

Collections from customers are normally $67$ percent in the month of sale, $15$ percent in the month following the sale, and $16$ 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 $$69,000,$ and sales for August are forecasted at $$75,000.$ Cash disbursements for expenses are expecte $$15,400$

for the month of August. The company's cash balance on August $1$ was $$31,000.$

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 $1$

Prepare the expected cash collections during August.

TEJAS WINDOW TINT