Requlred Information

$[$The following information applies to the questions displayed below.$]$

Built$-$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

month$-$end. Any preliminary 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$).$

Prepare a cash budget for the months of July. August, and September. $($Negotive balonces and Loan repayment amounts $($If any$)$

should be Indlcated with minus sign. Enter your final answers In whole dollars.$)$