Required informotion [The following information applies to the questions displayed below] Bult-Tight is preparing its master budget. Budgeted sales and cash payments follow: Sales to customers are 30% cash and 70% on credit. Sales in June were $61,000. All credit sales are collected in the month following the sale. The June 30 balance 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 balance is below $29.000 Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each monthend. Any preliminory cash balance above $29.000 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 (\$4,700 per month), and rent (\$7,200 per month) 1. Prepare o schedule of cash receipts for the months of July. August, and September