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

Sales to customers are $20\%$ cash and $80\%$ on credit. Sales in June were $$55,000.$ All credit sales are collected in the month following the sale. The June $30$ balance sheet includes balances of $$41,000$ in cash and $$4,700$ in loans payable. A minimum cash balance of $$41,000$ is required. Loans are obtained at the end of any month when the preliminary cash balance is below $$41,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. Any preliminary cash balance above $$41,000$ is used to repay loans at month$-$end. Expenses are paid in the month incurred and consist of sales commissions $(10\%$ of sales$),$ office salaries $($ $$3,700$ per month$),$ and rent $($ $$6,200$ per month$).$

Problem $7-2$A $($Algo$)$ Part $2$

$2.$ Prepare a cash budget for the months of July, August, and September.

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign. Enter your final answers in whole dollars.

$\backslash$table$[[$Cash Budget$],[,$July,August,September$],[$Beginning cash balance,$$,41,000,$$$,41,000,],[$Add: Cash receipts,,$55,500,,60,700,69,700],[$Total cash available,,$96,500,,101,700,],[$Less: Cash payments for$],[$Direct labor,,$3,740,,3,060,3,140],[$Direct materials,,$15,860,,13,140,13,460],[$Interest on loan,,$47,,,],[$Office salaries,,$-,,,],[$Overhead$,,19,900,,16,500,16,900],[$Rent$,,,,,],[$Sales commissions,,,,,$],[$Total cash payments,,$39,547,,32,700,33,500],[$Preliminary cash balance$],[$Loan activity$],[$Additional loan$],[$Repayment of loan to bank,,,,,$]]$