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 $11,000.
b.	Actual sales for July and August and expected sales for September are as follows:

	July		August		September
Cash sales	$	5,500	$	5,000	$	8,600
Sales on account		22,000		26,000		44,000
Total sales	$	27,500	$	31,000	$	52,600

	Sales on account are collected over a three-month period as follows: 5% collected in the month of sale, 60% collected in the month following sale, and 31% collected in the second month following sale. The remaining 4% is uncollectible.
c.	Purchases of inventory will total $25,000 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 $17,000, all of which will be paid in September.
d.	Selling and administrative expenses are budgeted at $15,000 for September. Of this amount, $4,000 is for depreciation.
e.	Equipment costing $16,000 will be purchased for cash during September, and dividends totaling $4,000 will be paid during the month.
f.	The company maintains a minimum cash balance of $7,000. An open line of credit is available from the company's bank to bolster the cash balance as needed.

Required:
1.	Prepare a schedule of expected cash collections for September. 2. Prepare a schedule of expected cash disbursements for inventory purchases for September. 3. Prepare a cash budget for September. Indicate in the financing section any borrowing that will be needed during September. Assume that any interest will not be paid until the following month.