Built$-$Tight is preparing its master budget. Budgeted sales and cash payments follow:

Sales to customers are $30\%$ cash and $70\%$ on credit. Sales in June were $$64,000.$ All credit sales are collected in the

month following the sale. The June $30$ balance sheet includes balances of $$35,000$ in cash and $$6,000$ in loans payable.

A minimum cash balance of $$35,000$ is required. Loans are obtained at the end of any month when the preliminary cash

balance is below $$35,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each

month$-$end. Any preliminary cash balance above $$35,000$ is used to repay loans at month$-$end. Expenses are pald in the

month incurred and consist of sales commissions $(10\%$ of sales$),$ office salaries $($ $$5\mathrm{.}000$ per month$),$ and rent $($$$7,500$ per

month$).$

Prepare a schedule of cash receipts for the months of July, August, and September.

Prepare a cash budget for the months of July. August, and September.

Note: Negatlve balances and Loan repayment amounts $($If any$)$ should be Indleated with minus sign. Enter your final answers In

whole dollars.