Calgon Products, a distributor of organic beverages, needs a cash budget for September. The following information is available: The cash balance at the beginning of September is $9,750. Actual sales for July and August and expected sales for September are as shown below. Sales on actount are collected over a three-month peried as follows: 10% collected in th sale, ros collected in the month following sale, and 1st collected in the second month following sale, The remaining 2% is uncollectible: c. Purchases of inventory will total $32,500 for September. Twenty percent of a month's inventory purchases are paid for during the month of purchase. The actounts puyable rem August's inventory purchases total \$25,000, all of which will be paid in september. Selling and administrative expenses are budgeted at $20,500 for September. Of this amount, $7,000 is for depreciation. Equipment costing $25,500 will be purchased for cash during September, and dividends totalling $5,300 will be paid during the month. The company maintains a minimum cash balance of S5,400. An open line of credit is available from the company's bank to bolster the cash position as needed. Assume any born cccur at the beginning of the month and repwments cocur at the end of the month, Interest on outstanding loan balances during the month must be paid at the end of each me monthly interest rate is 0.5%