Just need help on 15-18. Thank You!!

Cash Sales: $90,000 JULY Credit Sales: $145,000 Cash Sales: $260,000 AUGUST Credit Sales: $100.000 Cash Sales: $195.C Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted inventory purchases are June: $300,000 July: $260.000 August: $105,000 Other budgeted expenses are: 1. Monthly Selling and Administrative Expenses $50,000 (including $2,000 of depreciation expense) 2. Dividends of $113,000 will be paid in July 3. purchase of equipment in August for $30,000 cash The company wishes to maintain a minimum cash balance of $50,000 at the end of each month. The company borrows money from the bank at 9% interest if necessary to maintain the minimum cash balance. Borrowed money is repaid in months when there is an excess cash balance. The beginning cash balance on July 1 was $50,000. Assume that borrowed money in this case is for one month. 1. How much are the TOTAL cash collections for the month of July? (e.g. $100,000) $401,000 F3 Fd F6 F7 F8 Question 15 2 pts How much are the total cash disbursements for the month of July? (e.g. $100,000) $514,000 Question 16 2 pts How much are the total cash disbursements for the month of August? (e.g. $100,000) $343,000 2 pts Question 17 How much money must be borrowed for the month of July to maintain the desired $50.000 ending cash balance? (e.g. $100,000) 2 pts Question 18 Assuming the loan taken out in July was paid back in August, what is the ending cash balance for August? (e.g. $100,000). Hint: Don't forget the interest on the loan