Jones Consulting a service company, budgeted the following for July, August, and September: August $240,000 September $245.000 Cash Receipts (excluding any funds received from loans 1235,000 Operating Excoenses (indudes salaries of 330.000 and 110.000 of depreciation 3235,000 expense excludes any repayment of loans or interest expense) 5246,950 $250,000 All cash operating expenses are paid in the month incurred. According to a credit agreement with its bank, Jones requires a minimum cash balance of $20,000 at each month-end. In return, the bank has agreed that the company can borrow up to $100,000 at an annual interest rate of 12%, with interest paid monthly on the last day of each month. The interest is computed based on the loan balance at the beginning of the month. The company repays loan principal with any cash in excess of $20,000 on the last day of each month. On July 1. Jones had a the following balances: cash, $5,000; loan payable, $o. Prepare monthly cash budgets for July August, and September. Answers in the first (left) column should contain words. Answers in the other three columns should contain numbers. Do not use commas, dollar signs, or decimals in your numbers. Round to the nearest whole dollar. if necessary. For any negative balances or loan repayments, use parenthesis in your answers