Collections from customers are normally 68 percent in the month of sale, 16 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 5 percent discount allowed on purchases paid for by the tenth of the following month. purchases for august are budgeted at $66,000, and sales for august are forecasted at $72,000. cash disbursements for expenses are expected to be $14,800 for the month of august. the company’s cash balance on august 1 was $24,000. required:
prepare the expected cash collections during august.
prepare the expected cash disbursements during august.
calculate the expected cash balance on august 31.

Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e.g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)