can someone check my answers? my answers are in red.

Dalton Company has budget sales revenues as follows: JUNE Credit Sales: $135,000 Cash Sales: $90,000 JULY Credit Sales: $145,000 Cash Sales: $255,000 AUGUST Credit Sales: $90,000 Cash Sales: $195,000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted inventory purchases are: June: $300,000 July: $250,000 August: $105,000 Other budgeted expenses are: 1. Monthly Selling and Administrative Expenses - $50,000 (including $2,000 of depreciation expense) 2. Dividends of $103,000 will be paid in July 3. purchase of equipment in August for $30,000 cash The company wishes to maintain a minimum cash balance of $50,000 at the end of each month. The company borrows money from the bank at 8% interest if necessary to maintain the minimum cash balance. Borrowed money is repaid in months when there is an excess cash balance. The beginning cash balance on July 1 was $50,000. Assume that borrowed money in this case is for one month. 1. How much are the TOTAL cash collections for the month of July? $39,600 2. How much are the TOTAL cash collections for the month of August? $ 307,000 3. How much are the total cash payments for purchases for the month of July? $227,500 4. How much are the total cash payments for purchases for the month of August? $177,500 5. How much are the total cash disbursements for the month of July? $ 378,500 6. How much are the total cash disbursements for the month of August? $ 259,500 7. How much money must be borrowed for the month of July to maintain the desired $50,000 ending cash balance? 0 8. Assuming the loan taken out in July was paid back in August, what is the ending cash balance for August? Hint: Don't forget the interest on the loan