Beginning cash balance, September 1, $42,000. Budgeted cash receipts from September sales, $260,000. Direct materials are purchased on credit. Purchase amounts are August (actual), $73,000; and September (budgeted), $103,000. Payments for direct materials follow: 70% in the month of purchase and 30% in the first month after purchase. Budgeted cash payments for direct labor in September, $33,000. Budgeted depreciation expense for September, $3,000. Budgeted cash payment for dividends in September, $60,000. Budgeted cash payment for income taxes in September, $10,400. Budgeted cash payment for loan interest in September, $1,500.

Use the following information to prepare the September cash budget for PTO Company. Ignore the Loan activity section of the budget