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Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records. Month April May June Sales $77,080 74,00 75,000 84, eee Purchases $60,000 53,000 41,080 59,880 July Collections from customers are normally 70 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 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 $15.800 for the month of August. The company's cash balance on August 1 was $39.000. 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 Month Sales Percent Expected Collections % % Total Reguld Required 2 > Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records. Month April Hay June July Sales $77,080 74,000 75,089 34,880 Purchases $60,000 53,000 41, e8 59,000 Collections from customers are normally 70 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 2 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at 561.000, and sales for August are forecasted at $67.000. Cash disbursements for expenses are expected to be $15.800 for the month of August. The company's cash balance on August 1 was $39.000. 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 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 Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records. Month April May June July Sales $77, eee 74,000 75, eee 84, eee Purchases $6e,eee 53,000 41,000 59,880 Collections from customers are normally 70 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 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 $15.800 for the month of August. The company's cash balance on August 1 was $39,000 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 balance