%252Fms.meducation.com/252Fmgmiddleware YouTube Maps aw How an embezzler... https://www.sec.go... > My Best Buy Visa. UWorld AUD Y Applicant Cockpit er 20 Connect Saved of 2 Required information Problem 20-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions displayed below) Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow: July August September Budgeted sales $64,000 $80,000 $ 48,000 Budgeted cash payments for Direct materials 16,160 13,440 13,760 Direct labor 4,040 3,360 3,440 Factory overhead 20,200 16,800 17,200 Book Print Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash: $45,000 in accounts receivable; and a $5,000 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs Interest is 1% per month based on the beginning of-the-month loan balance and is paid at each month end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,000 per month), and rent ($6,500 per month). Problem 20-2A Part 2 2. Prepare a cash budget for each of the months of July August, and September. (Negative balances and Loan repayment amo (if any) should be indicated with minus sign. Enter your final answers in whole dollars.) Next My Best Buy Visa. Chapter 20 Connect World AUD ET Applicant Code Saved Required information 6 (IT any) should be indicated with minus sign. Enter your tinai answers in wnole dollars.) Part 2 of 2 BUILT-TIGHT Cash Budget For July, August, and September July August September 10 points Beginning cash balance Sales commissions Total cash available 0 0 0 eBook Print Cash payments for Direct materials Direct labor Overhead Sales commissions Office salaries Rent Loan interest Total cash payments Preliminary cash balance Additional loan from bank Repayment of loan to bank Ending cash balance 0 of 7 Next >