Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: July August September Budgeted sales $ 61,500 $ 77,500 $ 50,500 Budgeted cash payments for Direct materials 16,660 13,940 14,260 Direct labor 4,540 3,860 3,940 Overhead 20,700 17,300 17,700 Sales to customers are 25% cash and 75% on credit. Sales in June were $60,000. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $25,000 in cash and $5,500 in loans payable. A minimum cash balance of $25,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $25,000. 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 $25,000 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 ($4,500 per month), and rent ($7,000 per month). Prepare a cash budget for the months of July, August, and September