Bright Star Inc. is preparing its cash budget for the third quarter of 2024. Sales are projected to be $200,000 in July, $250,000 in August, and $300,000 in September. The company typically collects 70% of sales in the month of sale and 30% in the following month. Prepare a cash receipts schedule and determine the ending cash balance for each month if the beginning cash balance for July is $50,000.