Required information Problem 20-2A Manufacturing: Cash budget LOP2 [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget for the quarter ended September 30 . Budgeted sales and cash payments for product costs for the quarter follow. Sales are 15% cash and 85% on credit. All credit sales are collected in the month following the sale. The June 30bala sheet includes balances of $15,000 in cash; $44,100 in accounts recelvable; and a $4,100 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 hin excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and 1. Prepare a cash receipts budget for July, August, and September. 2. Prepare a cash budget for each of 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.)