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Kelsey is preparing its master budget. Budgeted sales and cash payments for merchandise purchases for the next three months follow. Sales are 20% cash and 80% on credit. Sales in June were $56.250. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash and $5,000 in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained ot the end of any month when the preliminary cash balance is below $15,000, interest is 106 per month based on the beginning of the -month loan balance and is paid at each month end. If a preliminary cash balance above $15.000 at monthend exists. Joans are repaid from the excess. Expenses are paid in the month incurred and consist of sales commissions (IOrs of sales), office sataties (\$4,000 per month), and rent (\$6,500 per month). (i) Prepare a schedule of cash recelpts from sales for July. August, and Septembec. (2) Prepare a cash budget for July. August, and September. Complete this question by entering your answers in the tabs below. Prepare a cash budget for July, August, and September. (Negbtive balances and toan repoyment amounts (if any) should bet indicated with mings sign. Round your final answers to tho nsarest dollar.) Prepare a schedule of cash receipts from sales for July, August, and September. Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be Indicated with minus sign. Round your final answers to the nearest dollar.) Loan balance