Exercise 9-25 1 The following information is from Tejas WindowTint's financial records. Month April Sales $73,000 Purchases $50,000 May 72,000 48,000 5 June points July 64,000 76,000 36,000 54,000 eBook Print Saved Collections from customers are normally 68 percent in the month of sale, 20 percent in the month following the sale, and 9 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 $66,000, and sales for August are forecasted at $72,000. Cash disbursements for expenses are expected to be $15,200 for the month of August. The company's cash balance on August 1 was $23,000. 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. 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 Balance, August 1 August 31 Expected balance