Required information (The following information applies to the questions displayed below.) PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management's most optimistic projections. Sales are made on account and collected as follows: 48% in the month after the sale is made and 43% in the second month after sale. Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased or the cost is incurred In the subsequent month 74% 26% PrimeTime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows: September $ 41,100 October $ 54,100 November December $ 68,100 $ 58,800 Sales Cost of goods sold: Beginning inventory Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit Operating expenses Operating income $ 5,820 38,300 $ 44, 120 (14,540) $ 29,580 $ 11,520 10,700 $ 820 $ 14,540 $ 20,210 $ 21,580 43,800 49,000 33,300 $ 58, 340 $ 69, 210 $ 54,880 (20,210) (21,580) (19,530) $ 38, 130 $ 47,630 $ 35, 350 $ 15,970 $ 20,470 $ 23,450 12,700 14,000 15,700 3,270 $ 6,470 $ 7,750 Cash on hand August 31 is estimated to be $40,290. Collections of August 31 accounts receivable were estimated to be $20,000 in September and $15,480 in October. Payments of August 31 accounts payable and accrued expenses in September were estimated to be $23.890. Required: a. Prepare a cash budget for September. September Beginning cash Cash receipts: August 31 accounts receivable $ 0 Total cash receipts Cash disbursements: September purchases Total cash disbursements Ending cash $ $ 0 0