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Built - Tight is preparing its master budget. Budgeted sales and cash payments follow: Sales to customers are 3 0 % cash and 7 0

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 $62,500. All credit sales are collected in the
month following the sale. The June 30 balance sheet includes balances of $33,000 in cash and $5,900 in loans payable.
A minimum cash balance of $33,000 is required. Loans are obtained at the end of any month when the preliminary cash
balance is below $33,000. 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 $33,000 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 ($4,900 per month), and rent ( $7,400 per
month).
Problem 20-2A (Algo) Part 2
Prepare a cash budget for the months of July. August, and September. (Negatlve balences and Loan repayment amounts (If any)
should be Indleated with minus sign. Enter your flnel answers In whole dollars.)
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