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

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

July August September

Budgeted sales $ $57,000$ $ $73,000$ $ $55,000$

Budgeted cash payments for

Direct materials $15,76013,04013,360$

Direct labor $3,6402,9603,040$

Overhead $19,80016,40016,800$

Sales to customers are $20\%$ cash and $80\%$ on credit. Sales in June were $$54,500.$ All credit sales are collected in the month following the sale. The June $30$ balance sheet includes balances of $$43,000$ in cash and $$4,600$ in loans payable. A minimum cash balance of $$43,000$ is required. Loans are obtained at the end of any month when the preliminary cash balance is below $$43,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. Any preliminary cash balance above $$43,000$ 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 $($$$3,600$ per month$),$ and rent $($$$6,100$ per month$).$

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

$2.$ 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.