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Hello! Please show all the work required to answer this and also please format the answers in the same way that is shown once you
Hello! Please show all the work required to answer this and also please format the answers in the same way that is shown once you are done please. Thank you!
Check my work 1 The following information is from Tejas WindowTint's financial records. 5 points Month April May June July Sales $82,000 73,000 61,000 75,000 Purchases $56,000 45,000 33,000 51,000 eBook 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 $61,000, and sales for August are forecasted at $67,000. Cash disbursements for expenses are expected to be $15,400 for the month of August. The company's cash balance on August 1 was $28,000. Print 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. Required 1 Required 2 Required 3 Prepare the expected cash collections during August. TEJAS WINDOW TINT Expected Cash Collections August Month Sales Percent Expected Collections % % % Total 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 Net Cash disbursements for expenses Total 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 balanceStep by Step Solution
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