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Problem $20-2$A $($Algo$)$ Manufacturing: Cash budget and schedule of cash payments LO P$2$

$[$The following information applies fo the questions displayed below.$]$

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

Sales to customers are $20\%$ cash and $80\%$ on credit. Sales in June were $$52,500.$ All credit sales are collected in the month following the sale. The June $30$ balance sheet includes balances of $$51,000$ in cash and $$4,200$ in loans payable. A minimum cash balance of $$51,000$ is required. Loans are obtained at the end of any month when the prelliminary cash balance is below $$51,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. Any preliminary cash balance above $$51,000$ 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 $($ $$3,200$ per month$),$ and rent per month$).$

Problem $20-2$A $($Algo$)$ Part $2$

$2.$ Prepare a cash budget for the months of July, August, and September. $($Negative balances and Loan repayment amounts $($If any$)$ should be indicated with minus sign. Enter your final answers in whole dollars.$)$

$\backslash$table$[[$BUILT$-$TIEHT$],[$Cash Budget$],[,$July,August,September$],[$Beginning cacti balance$],[7,+2,,],[$Total cash available$],[$Lens: Cash payments for$],[,2,,],[20],[2],[],[,,,],[,-,,],[0],[$Total cuel payments,$+2,,0],[$Preliminary cash balance$],[$Loan ajivity$],[$Hoblitional loan$],[$Repaymeri of loan is bark$],[$Erding cash balance,$0,0),0]]$

$\backslash$table$[[$Loan batance$],[,$July,August,Septermber$],[,,,],[,,,],[$Lown balervec $-$ Erd of muenth,,,$]]$