Return to question 2 The following information is from Tejas WindowTint's financial records Month April May June July Sales $74,000 68,000 68,000 78,000 Purchases $43,000 43,000 31,000 49,000 0.9 points Collections from customers are normally 70 percent in the month of sale, 18 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 5 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 $14,600 for the month of August. The company's cash balance on August 1 was $33,000 Required 1. Prepare the expected cash collections during August. 2. Prepare the expected cash disbursements during August. 3. Calculate the expected cash balance on August 31 Answer is not complete Complete this question by entering your answers in the tabs below Required Required 2 Required 3 Prepare the expected cash collections during August TEJAS WINDOW TINT Expected Cash Collections August Expected Month Sales Percent Collections 70 % |$ 46,900 4,040 6,120 $ 67,060 ugst 85,400 Jul 78,000 June 068,000 90% Total Required1 Required 2> Return to question 2 The following information is from Tejas WindowTint's financial records Month April ay June July Sales $74,000 68,000 68,000 78,000 Purchases $43,000 43,000 31,000 49,000 0.9 points Collections from customers are normally 70 percent in the month of sale, 18 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 5 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 $14,600 for the mnth of August. The company's cash balance on August 1 was $33,000 Requirec 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 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 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 0 Return to question 2 The following information is from Tejas WindowTint's financial records Month April May June July Sales $74,000 68,000 68,000 78,000 Purchases $43,000 43,000 31,000 49,000 0.9 points Collections from customers are normally 70 percent in the mnth of sale, 18 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 acc unt. Management takes full advantage of the 5 percent discunt 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 $14,600 for the month of August. The company's cash balance on August 1 was $33,000 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 Answer is not complete Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 3 Calculate the expected cash balance on August 31. TEJAS WINDOW TINT Expected Cash Balance August 31 Balance, August 1 Expected balance K Required 2 Required 3
