Ojai Products, a distributor of organic beverages, needs a cash budget for September. The following information is available: a. The cash balance at the beginning of September is $14,100. b. Actual sales for July and August and expected sales for September are as follows:

July August September Cash sales $ 8,700 $ 6,700 $ 12,100 Sales on account 22,300 27,300 38,300 Total sales 31,000 34,000 50,400

	Sales on account are collected over a three-month period as follows: 10% collected in the month of sale, 65% collected in the month following sale, and 21% collected in the second month following sale. The remaining 4% is uncollectible.
c.	Purchases of inventory will total $22,400 for September. Thirty percent of a month's inventory purchases are paid for during the month of purchase. The accounts payable remaining from August's inventory purchases total $13,400, all of which will be paid in September.
d.	Selling and administrative expenses are budgeted at $15,300 for September. Of this amount, $5,300 is for depreciation.
e.	Equipment costing $20,600 will be purchased for cash during September, and dividends totaling $2,700 will be paid during the month.
f.	The company maintains a minimum cash balance of $9,900. An open line of credit is available from the companys bank to bolster the cash balance as needed.

Required:

1.

Prepare a schedule of expected cash collections for September. (Do not round intermediate calculations.)

2.

Prepare a schedule of expected cash disbursements for inventory purchases for September. (Do not round intermediate calculations.)

3.	Prepare a cash budget for September. Indicate in the financing section any borrowing that will be needed during September. Assume that any interest will not be paid until the following month.