Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas WindowTint's financial records. Month April May Sales $78, e 56. Bee 65.ee 73.800 Purchases 560.ee 52.ee 45, 63.co July Collections from customers are normally 68 percent in the month of sale, 17 percent in the month following the sale, and 12 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 4 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $67,000, and sales for August are forecasted at $73,000. Cash disbursements for expenses are expected to be $15,000 for the month of August. The company's cash balance on August 1 was $29.000 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 TEJAS WINDOW TINT Expected Cash Collections August Sales Percent Expected Required 2 > Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records Month Sales Purchases April $78,eee $60,000 May 66,000 57.000 June 65,eee 45, eee July 73,eee 63.000 Collections from customers are normally 68 percent in the month of sale, 17 percent in the month following the sale, and 12 percent in the second month folowing the sale. The balance is expected to be uncollectible. All purchases are on account Management takes full advantage of the 4 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $67,000, and sales for August are forecasted at $73.000 Cash disbursements for expenses are expected to be $15.000 for the month of August. The company's cash balance on August 1 was $29.000 e s was $29.000. Requlred 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 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 Cathsbursements for expense Required 3 > Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas WindowTint's financial records Month April May June July Sales $78,000 66, eee 65,000 73, Purchases $60,eee 57. eee 45,000 63,88e Collections from customers are normally 68 percent in the month of sale, 17 percent in the month following the sale, and 12 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 4 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $67,000, and sales for August are forecasted at $73,000. Cash disbursements for expenses are expected to be $15,000 for the month of August. The company's cash balance on August 1 was $29,000. 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 Calculate the expected cash balance on August 31. TEJAS WINDOW TINT Expected Cash Balance August 31 Balance August 1 Expected balang Repared2