G M O Bb X UCSO UCSC + 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 10 Factory overhead 20,300 16,900 17, 300 points Skipped Sales are 25% cash and 75% on credit. All credit sales are collected in the month following the sale. The June 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 eBook month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the Print month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), 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 G M O Bb X UCSO UCSC + 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 amounts (IT anvi should be indicated with minus sion. Enter vour final answers in whole dollars.I Required information Cash Budget Part 2 of 2 For July, August, and September July August September Beginning cash balance 10 points Total cash available Skipped Cash payments for: eBook Print References Total cash payments Preliminary cash balance Additional loan from bank Repayment of loan to bank Ending cash balance 0 0 0 Loan balance Mc Graw G M S Bb X UCSO UCSC + 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 ! Required information Part 2 of 2 10 points Total cash payments 0 0 Skipped Preliminary cash balance Additional loan from bank Repayment of loan to bank eBook Ending cash balance 0 0 0 Print References Loan balance July August September Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Mc Graw