The following information is from Tejas WindowTint's financial records.
Collections from customers are normally percent in the month of sale, percent in the month following the sale, and 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 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are
budgeted at $ and sales for August are forecasted at $ Cash disbursements for expenses are expected to be $
for the month of August. The company's cash balance on August was $
Required:
Prepare the expected cash collections during August.
Prepare the expected cash disbursements during August.
Calculate the expected cash balance on August
Complete this question by entering your answers in the tabs below.
Required
Prepare the expected cash disbursements during August.
TEJAS WINDOW TINT
Expected Cash Disbursements
August
July purchases to be paid in August
