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Required information

Problem $22-2$A $($Algo$)$ Manufacturing: Cash budget and schedule of cash payments LO P$2$

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

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

Sales to customers are $25\%$ cash and $75\%$ on credit. Sales in June were $$55,500.$ All credit sales are collected in the

month following the sale. The June $30$ balance sheet includes balances of $$39,000$ in cash and $$4,800$ in loans payable.

A minimum cash balance of $$39,000$ is required. Loans are obtained at the end of any month when the preliminary cash

balance is below $$39,000.$ 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 $$39,000$ 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 $($ $$3,800$ per month$),$ and rent $($ $$6,300$ per

month$).$

Problem $22-2$A $($Algo$)$ Part $2$

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.