PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management's most optimistic projections. Sales are made on account and collected as follows: 51% in the month after the sale is made and 46% in the second month after sale. Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased or the cost is incurred In the subsequent month 80% 20% PrimeTime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows: September $ 41,500 October $ 54,400 November $ 68,000 December $ 58,800 Sales Cost of goods sold: Beginning inventory Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit Operating expenses Operating income $ 6,220 38,600 $ 44,820 (14,180) $ 30,640 $ 10,860 10,500 $ 360 $ 14,180 43,700 $ 57,880 (20,150) $ 37,730 $ 16,670 12,700 $ 3,970 $ 20,150 48,700 $ 68,850 (22,390) $ 46,460 $ 21,540 14,000 $ 7,540 $ 22,390 32,700 $ 55,090 (19,910) $ 35,180 $ 23,620 16,200 $ 7,420 Cash on hand August 31 is estimated to be $39,710. Collections of August 31 accounts receivable were estimated to be $20,430 in September and $15,160 in October. Payments of August 31 accounts payable and accrued expenses in September were estimated to be $23,850. Required: a. Prepare a cash budget for September. September Beginning cash Cash receipts: 0 Total cash receipts Cash disbursements: Total cash disbursements $ 0 | || Ending cash $