AAA Company is preparing its 3rd quarter budget and provides the following data: Aug $40,000 Sep $48,000 $50,000 Cash collections Cash payments: Purchases of inventory Operating expenses Capital expenditures 31,000 12,000 0 22,000 9,000 19,000 18,000 11,600 Cash balance at June 30 is projected to be $4,000. The company is required to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and pays interest monthly at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. Loan balance should be repaid in increments of $5,000 when there is surplus cash. Using the format below, please complete the cash budget: Jul Aug Sep Cash Budget Beginning cash balance Cash collections Cash available Cash payments: Purchases of inventory Operating expenses Capital expenditures Total cash payments Ending cash balance before financing Minimum cash balance desired Cash excess/(deficiency) Financing Borrowing at end of month Principal payments at end of month Interest expense at 5% Total effects of financing Ending cash balance