The following information is from Tejas WindowTint's financial records Month April May June July Sales $82,000 71.000 68,000 83,000 Purchases 146,000 16.00 34,000 52,000 Collections from customers are normally 65 percent in the month of sale 19 percent in the month following the sale, and 14 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 $62,000, and sales for August are forecasted at $68.000 Cash disbursements for expenses are expected to be $15,000 for the month of August. The company cash balance on August i was $22.000 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 TEJAS WINDOW TINT Expected Cash Collections August Month Sales Percent Expected Collections % % % Total Prepare the expected cash disbursements during Auyust. TEJAS WINDOW TINT Expected Cash Disbursements August July purchases to be paid in August Net Cash disbursements for expenses Total