Budgeted Sales . .. 70% of sales on account are collected in the month of sale, 15% of sales on account are collected in the first month following the sale, 10% of sales on account are collected in the second month following the sale. Total budgeted sales in June ($40,000 of total sales are sales on account) $80,000 Total budgeted sales in July ($40,000 of total sales are sales on account) $95,000 Total budgeted sales in August ($30,000 of total sales are sales on account) $110,000 Budgeted Raw Material Purchases . .. 25% of purchases on account are paid in the month of purchase, 75% of purchases on account are paid in the month following the month of purchase. Budgeted purchases on account for June $60,000 Budgeted purchases on account for July $50,000 Budgeted purchases on account for August $40,000 All other budgeted cash expenses are paid when incurred. Budgeted August salaries are $31,400, budgeted August utilities are $3,220, and budgeted August depreciation is $10,000. The cash balance on August 1 is expected to be $12,300. What is the budgeted cash balance on August 31? $31,000 547,500 @ 541. 180 @ $31 180 hp