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Sales to customers are 25% cash and 75% on credit. Sales in June were $55.500. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $39,000 in cash and $4,800 in loans payable. A minimum cash balance of $39,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $39,000. Interest is 1% per month based on the beginning-of the-month loan balance and is paid at each month-end. Any preliminary cash balance above $39.000 is used to repay loans at month-end. Expenses are paid in the month incurred and consist of sales commissions (10\% of sales), office salaries ( $3,800 per month), and rent ( $6.300 per month). Problem 22-2A (Algo) Part 1 1. Prepare a schedule of cash recelpts for the months of July. August, and September. 1. Prepare a schedule of cash receipts for the months of July. August, and September