Month April May June July Sales $78,888 71, cee 61,600 76,000 Purchases $ 46,00 62,eee 5e,eee 68,888 Collections from customers are normally 68 percent in the month of sale, 15 percent in the month following the sale, and 13 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 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $70,000, and sales for August are forecasted at $76,000. 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. 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 June 96 July 96 August 96 Total S 0 The following information is from Tejas WindowTint's financial records. Month Sales April $78, eee May 71, eee June 61,000 July 76,000 Purchases $46, eee 62,eee 50,000 68, eee Collections from customers are normally 68 percent in the month of sale, 15 percent in the month following the sale, and 13 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 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $70,000, and sales for August are forecasted at $76,000. 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. 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 disbursements during August. TEJAS WINDOW TINT Expected Cash Disbursements August July purchases to be paid in August Less: Cash discount Net S 68,000 Cash disbursements for expenses Total S 0 The following information is from Tejas WindowTint's financial records. Month April May June July Sales $78,620 71, eee 61,000 76,00 Purchases $46, eee 62,00 50,00 68,000 Collections from customers are normally 68 percent in the month of sale, 15 percent in the month following the sale, and 13 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 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $70,000, and sales for August are forecasted at $76,000. 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. 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