Built-Tight is preparing its master budget for the quarter ended September 30, 2015. Budgeted sales and cash payments for product costs for the quarter follow:

	July		August		September
Budgeted sales	$	58,500	$	74,500	$	53,500
Budgeted cash payments for
Direct materials		16,060		13,340		13,660
Direct labor		3,940		3,260		3,340
Factory overhead		20,100		16,700		17,100

Sales are 25% cash and 75% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $44,900 in accounts receivable; $4,400 in accounts payable; and a $4,900 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning of the month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($3,900 per month), and rent ($6,400 per month).

Prepare a cash budget for each of the months of July, August, and September. (Negative balance and Loan repayment amount should be indicated with minus sign.)

September BUILT-TIGHT Cash Budget For July, August, and September July August Beginning cash balance Cash receipts from customers Total cash available Cash disbursements: Payments for direct materials Payments for direct labor Payments for overhead Sales commissions Office salaries Rent Interest on bank loan July August Preliminary cash balance Additional loan (loan repayment) Ending cash balance 0 0 Loan balance August September Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month