Prepare a cash receipts budget for July, August, and September. Built-Tight is preparing its master budget for the quarter ended September 30, 2015. Budgeted sales and cash payments for product costs for the quarter follow: Sales are 20% cash and 80% on credit. All credit sales are collected In the month following the sale. The June 30 balance sheet Includes balances of $15,000 in cash; $45,000 In accounts receivable; $4, 500 In accounts payable; and a $5,000 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning of the month loan balance and Is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month Incurred and consist of sales commissions (10% of sales), office salaries ($4,000 per month), and rent ($6, 500 per month)