Sales or 20% cash and 80% on credit. All credit sales or collected in the month following the sale the June 30 balance sheet includes balance of 15,000 in cash 44,300 and accounts receivable 3800 in accounts payable and 4300 balance in loans payable minimum cash balance of 15,000 is required loans are obtained at the end of any month when I cash shortage of hers interest is 1% per month based on the beginning of the month loan balance in his paid at each month end and excess balance of cash exist loans are we paid at the end of the month operating expenses are paid in the month incurred and consist of sales commissions 10% of sales office salaries 3300 per month in rent 5800 per month

Miltadies is preparing his master budget for the quarter ended September 30, 2017 budget to sales in cash payments for product cost for the quarter follow