Required information [The following information applies to the questions displayed below.) 2 of 2 Built-Tight is preparing its master budget for the quarter ended September 30, 2017 Budgeted sales and cash payme, for product costs for the quarter follow July $63,500 August $79,500 September $ 48,500 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 16,260 4,140 20,300 13,540 3,460 16.900 13,860 3,540 17.500 Sales are 25 cash and 75% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15.000 in cash, $45.100 in accounts receivable: $4,600 in accounts payable, and a $5.100 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. Interestis 19 per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists. loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions 10% of sales, office salaries ($4,100 per month), and rent $6,500 per month (2) Prepare a cash budget for each of the months of July August and September (Negative balances and Loan repayment amour (if any) should be indicated with minus sign. Enter your final answers in whole dollars.) BUILT TIGHT Cash Budget For July August, and September August July Required information BUILT-TIGHT Cash Budget For July, August, and September July August September Beginning cash balance Total cash available Cash payments for Total cash payments Preliminary cash balance Ending cash balance Loan balance July August September Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month [