Required information Skip to question [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: July August September Budgeted sales $ 63,500 $ 79,500 $ 48,500 Budgeted cash payments for Direct materials 16,260 13,540 13,860 Direct labor 4,140 3,460 3,540 Overhead 20,300 16,900 17,300 Sales to customers are 25% cash and 75% on credit. Sales in June were $57,000. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $17,000 in cash and $5,100 in loans payable. A minimum cash balance of $17,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $17,000. 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 $17,000 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 ($4,100 per month), and rent ($6,600 per month). 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.)