Calgon Products, a distributor of organic beverages, needs a cash budget for September. The following information is available: a. The cash balance at the beginning of September is $10,.200 b. Actual sales for July and August and expected sales for September are as follows $6,900 S5,100 8,900 Cash sales Sales on account 21,000 30,000 36,000 Total sales $ 27,900 $35,100 $44,900 Sales on account are collected over a three-month period as follows: 10% collected in the month of sale, 60% collected in the month following sale, and 26% collected in the second month following sale The remaining 4% is uncollectible c. Purchases of inventory will total $30,000 for September. Thirty percent of a month's inventory purchases are paid for during the month of purchase. The accounts payable remaining from August's inventory purchases total $15,000, all of which will be paid in September d. Selling and administrative expenses are budgeted at $14,000 for September. Of this amount, $4,000 is e. Equipment costing $20,000 will be purchased for cash during September, and dividends totaling $3,000 f The company maintains a minimum cash balance of $6,200. An open line of credit is available from the Required: for depreciation will be paid during the month company's bank to bolster the cash balance as needed. 1. Prepare a schedule of expected cash collections for September. (Do not round intermediate calculations.) Schedule of Expected Cash Collections September cash sales September collections on account July sales August sales September sales Total cash collections 2. Prepare a schedule of expected cash disbursements for inventory purchases for September (Do not round intermediate calculations.) Schedule of Expected Cash Disbursements Payments to suppliers August purchases ases Total cash payments