6. Sales for July, August, and September are expected to be $100,000, $90,000, and $110,000, respectively, for Koslox Company. All sales are on account (terms 2/15, net 30 days) and are collected 60 percent in the month of the sale and 40 percent in the following month. One-half of all sales discounts are taken on the average. Raw materials are purchased one month before being needed, and all purchases and expenses are paid for as incurred. Activities for the quarter are expected to be: July August September Raw materials used 20,000 $18,000 $22,000 Salaries 35,000 34,000 46,000 Maintenance and repairs 9,000 9,000 9,000 Depreciation 18,000 18,000 18,000 Utilities and other 7,000 7,000 7,000 Dividends paid -0- 5,000 -0- Payment on bonds 4,000 4,000 4,000 Required: Using the given information, prepare a cash budget for August