Prepare a cash budget for the months of July, August, and September.

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign. Enter your final answers in

whole dollars. $[$The following information applies to the questions displayed below.$]\backslash$table$[[$BUILT$-$TIGHT$],[$Cash Budget$],[,$July,August,September$],[$Beginning cash balance$],[,,,],[$Total cash available$],[$Less: Cash payments for$],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[$Total cash payments,$0,0,0],[$Preliminary cash balance$],[$Loan activity$],[$Additional loan$],[$Repayment of loan to bank$],[$Ending cash balance,$0,0,0],[$Loan balance$],[,$July,August,September$],[$Loan balance $-$ Beginning of month$],[$Additional loan $($loan repayment$)],[$Loan balance $-$ End of month,,,$]]$

Built$-$Tight is preparing its master budget. Budgeted sales and cash payments follow:

July August September

Budgeted sales $ $62,500$ $ $78,500$ $ $49,500$

Budgeted cash payments for

Direct materials $16,46013,74014,060$

Direct labor $4,3403,6603,740$

Overhead $20,50017,10017,500$

Sales to customers are $25\%$ cash and $75\%$ on credit. Sales in June were $$58,000.$ All credit sales are collected in the month following the sale. The June $30$ balance sheet includes balances of $$21,000$ in cash and $$5,300$ in loans payable. A minimum cash balance of $$21,000$ is required. Loans are obtained at the end of any month when the preliminary cash balance is below $$21,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. Any preliminary cash balance above $$21,000$ is used to repay loans at month$-$end. Expenses are paid in the month incurred and consist of sales commissions $(10\%$ of sales$),$ office salaries $($$$4,300$ per month$),$ and rent $($$$6,800$ per month$).$

$2.$ Prepare a cash budget for the months of July, August, and September.

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign. Enter your final answers in whole dollars.