$14$ Exercise $9-26$ Cash Budgeting $($LO $9-3,9-5)$ The following information is from Tejas WindowTint's financial records. Collections from customers are normally $66$ percent in the month of sale, $18$ percent in the month following the sale, and $15$ 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 $\backslash (\backslash$$ $62,000\backslash ),$ and sales for August are forecasted at $\backslash (\backslash$$ $68\mathrm{.}000\backslash ).$ Cash disbursements for expenses are expected to be $\backslash (\backslash$$ $4,000\backslash )$ for the month of August. The company's cash balance on August $1$ was $\backslash (\backslash$$ $24,000\backslash ).$ 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. Prepare the expected cash collections during August.Exercise $9-26$ Cash Budgeting $($LO $9-3,9-5)$ The following information is from Tejas WindowTint's financial records. Collections from customers are normaily $66$ percent in the month of sale, $18$ percent in the month following the sale, and $15$ 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 $\backslash (\backslash$$ $62,000\backslash ),$ and sales for August are forecasted at $\backslash (\backslash$$ $68,000\backslash ).$ Cash disbursements for expenses are expected to be $\backslash (\backslash$$ $14,000\backslash )$ for the month of August. The company's cash balance on August $1$ was $\backslash (\backslash$$ $24,000\backslash ).$ 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. Prepare the expected cash disbursements during August.Exercise $9-26$ Cash Budgeting $($LO $9-3,9-5)$ The following information is from Tejas WindowTint's financial records. Collections from customers are normally $66$ percent in the month of sale, $18$ percent in the month following the sale, and $15$ 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 $\backslash (\backslash$$ $62,000\backslash ),$ and sales for August are forecasted at $\backslash (\backslash$$ $68,000\backslash ).$ Cash disbursements for expenses are expected to be $\backslash (\backslash$$ $14,000\backslash )$ for the month of August. The company's cash balance on August $1$ was $\backslash (\backslash$$ $24,000\backslash ).$ 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. Calculate the expected cash balance on August $31.$