Required information [The following information applies to the questions displayed below.] Bullt-Tight is preparing its master budget. Budgeted sales and cash payments follow. Sales to customers ate 30% cash and 70% on credit. Soles in June were $61,000. All credit soles are coltected in the month following the sale. The June 30 bolance sheet includes balances of $29,000 in cash and $5,700 in loans payable. A minimum cash balance of $29.000 is required. Loans are obtained at the end of any month when the preliminary cash bolance is below $29.000. Interest is 1% per month based on the beginning-of-the month loan balance and is paid at each. month-end. Any preliminary cash balonce above $29,000 is used to repay loons at month-end. Experises are paid in the month incurted and consint of tales commistions (10\% of soles). office salaries (\$4,700 per month). and rent i\$7,200 per month) 2. Prepare a cosh budget for the months of July. August, and Septeriber. (Negetive belances and Loen repayment amounts (if any) should be indicated with minus sign. Enter your final snswers in whole dollars.) 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.) Required information