Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased or the cost is incurred In the subsequent month 79% 21% PrimeTime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows: Sales September $ 41,900 October $ 54,300 November $ 67,500 December $ 59,400 Cost of goods sold: Beginning inventory $ 6,020 Purchases 37, 400 $ 14,860 43, 900 $ 20, 510 48, 800 Cost of goods available for sale $ 43, 420 $ 58, 760 Less: Ending inventory (14.860) Cost of goods sold $ 28, 560 $ 38, 250 Gross profit $ 13,340 Operating expenses 10, 200 $ 16,050 12,800 Operating income $ 3, 140 $ 3,250 $ 5,690 (20, 510) $ 69, 310 (22, 200) $ 47, 110 $ 20, 390 14,700 $ 22, 200 33, 200 $ 55,400 (19,680) $ 35, 720 $ 23,680 16, 100 $ 7,580 Cash on hand August 31 is estimated to be $40,060. Collections of August 31 accounts receivable were estimated to be $19,680 in September and $14,820 in October. Payments of August 31 accounts payable and accrued expenses in September were estimated to be $24,390. Required: a. Prepare a cash budget for September. Beginning cash Cash receipts: August 31 accounts payable and accrued expenses Total cash receipts Cash disbursements: August 31 accounts payable and accrued expenses September purchases September operating expenses Total cash disbursements Ending cash September $ 0 $ 0 $ 0 my