e Equipment costing $20,500 will be purchased for cash during September, and dividends totalling $3,800 will be paid during the month. f. The company maintains a minimum cash balance of $5,500. An open line of credit is available from the company's bank to bolster the cash position as needed. Assume any borrowings occur at the beginning of the month and repayments occur at the end of the month. Interest on outstanding loan balances during the month must be paid at the end of each month. The monthly interest rate is 0.5%. Required: 1. Prepare a schedule of expected cash collections for September ices September cash sales September collections on account July sales August sales September sales Total cash collections 2. Prepare a schedule of expected cash disbursements during September for Inventory purchases. 2. Prepare a schedule of expected cash disbursements during September for inventory purchases. Payments to suppliers: August purchases (accounts payable) September purchases Total cash payments 3. Prepare a cash budget for September. Indicate in the financing section any borrowing that will be needed during September. (Round your intermediate calculations to the nearest whole number.) Calgon Products Cash Budget For the Month of September Cash balance, September 1 Add cash receipts 3. Prepare a cash budget for September. Indicate in the financing section any borrowing that will be needed during September. (Round your intermediate calculations to the nearest whole number.) Calgon Products Cash Budget For the Month of September Cash balance September 1 Add cash receipts Collections from customers Total cash available before current financing Less disbursements: Payments to suppliers for inventory Selling and administrative expenses Equipment purchases Dividends paid Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Cash balance, September 30 Prey 1 of 1 Ne e Equipment costing $20,500 will be purchased for cash during September, and dividends totalling $3,800 will be paid during the month. f. The company maintains a minimum cash balance of $5,500. An open line of credit is available from the company's bank to bolster the cash position as needed. Assume any borrowings occur at the beginning of the month and repayments occur at the end of the month. Interest on outstanding loan balances during the month must be paid at the end of each month. The monthly interest rate is 0.5%. Required: 1. Prepare a schedule of expected cash collections for September ices September cash sales September collections on account July sales August sales September sales Total cash collections 2. Prepare a schedule of expected cash disbursements during September for Inventory purchases. 2. Prepare a schedule of expected cash disbursements during September for inventory purchases. Payments to suppliers: August purchases (accounts payable) September purchases Total cash payments 3. Prepare a cash budget for September. Indicate in the financing section any borrowing that will be needed during September. (Round your intermediate calculations to the nearest whole number.) Calgon Products Cash Budget For the Month of September Cash balance, September 1 Add cash receipts 3. Prepare a cash budget for September. Indicate in the financing section any borrowing that will be needed during September. (Round your intermediate calculations to the nearest whole number.) Calgon Products Cash Budget For the Month of September Cash balance September 1 Add cash receipts Collections from customers Total cash available before current financing Less disbursements: Payments to suppliers for inventory Selling and administrative expenses Equipment purchases Dividends paid Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Cash balance, September 30 Prey 1 of 1 Ne