Answer:
a. Expected cash collections during August:
= 69% of $69,000 = $47,610
b. Expected cash disbursements during August:
= Expenses = $14,400
c. The cash balance on August 31 is:
= $70,210.
Step-by-step explanation:
a) Data and Calculations:
Cash Collections:
Budgeted Sales = $69,000
69% in the month of sale = $47,610
Cash Disbursement:
Expenses = $14,400
Cash balance:
Beginning balance = $37,000
Cash collections 47,610
Cash disbursements (14,400)
Ending balance $70,210