Cheyenne, Inc. provided the following information: July August Projected sales $230,000 $278,000 Projected merchandise purchases $148,000 $174,000 . Cheyenne estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. Cheyenne pays for 20% of merchandise purchases in the month purchased and 80% in the following month. General operating expenses are budgeted to be $24,500 per month, including depreciation of $1,700. Cheyenne pays operating expenses in the month incurred. Cheyenne makes loan payments of $5,000 per month of which $550 is interest and the remainder is principal. Calculate Cheyenne's budgeted cash disbursements for August. Budgeted Cash Disbursements $