Please review the attached document and complete the cash budget for Community HC for the months of July, August, and September.

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Community Health Care Community Health Care, is developing a cash budget for July, August, and September Community's revenues in May and June were $147,500 and $147,000 respectively. Revenues of $180,000, $225,000 and $200,000 have been forecast for July, August, and September, respectively. Historically, 30% of the firm's revenues have been for cash, 50% have generated accounts receivable collected after 1 month, and the remaining 20% have generated accounts receivable collected after 2 months. Bad-debt expenses (uncollected accounts) have been negligible. In September, the firm will receive $40,000 from the release of a sinking fund balance that is no longer needed. Community Health Care enters July with a cash balance of $40,000 Cash disbursements for Community HC are as follows: Purchases. The firm's purchases represent 65% of sales. Of this, 20% is paid in cash, 60% in paid in the month immediately following the month of purchase, and the remaining 20% is paid 2 months following the month of purchase. Rent payments. Rent is $6,000 and is paid each month. Wages and salaries. Fixes salaries for the year are $106.000 or 58,833 per month. In addition, wages are estimated as 12% of monthly sales. Tax payments. Taxes are $22,000 and are paid in September Fixed-assets outlays. New machinery costing $90,000 will be purchased and paid for in August Interest payments. An interest payment of $10,000 is due in September Cash dividend payments. Cash dividends of $20,000 will be paid in July Principal payments (loans). A $22,000 principal payment is due in September Repurchases or retirement of stock. No repurchase or retirement of stock is expected between July and September Please add tisat there is a $25,000 minimum cash balance expected for Community Health Care