E PB 0 M Bb (X UCSC LCSC iF HER G 3 B V MO + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252... * Ch 7 HW - ACG3073 Saved Help Save & Exit Submit Check my work 22 Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. July August September Part 2 of 2 Budgeted sales $63, 500 $79,500 $ 48 , 500 Budgeted cash payments for Direct materials 16 , 260 13, 540 13, 860 Direct labor 4, 140 3, 460 3, 540 Factory overhead 20,300 16,900 17, 300 10 points Sales are 25% cash and 75% on credit. All credit sales are collected in the month following the sale. The June Skipped 30 balance sheet includes balances of $15,000 in cash; $45,100 in accounts receivable; and a $5,100 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan eBook balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), Print office salaries ($4,100 per month), and rent ($6,600 per month). References 2. Prepare a cash budget for each of the months of July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Enter your final answers in whole dollars.) BUILT-TIGHT Cash Budget For July, August, and September July August September Beginning cash balance Mc Graw E PB 0 M Bb (X UCSC LCSC iF HER G 3 B V MO + E PB 0 M Bb (X UCSC LCSC iF HER 0 3 B V MO +