t. Utilitios and sales commissions are paid the month after they are incurred, all other expenses are paid in the month in which they are incurred, Prepate a cash payments budget for selling and administrative expenses. 9. Gibson borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount avallable. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $19,000 cash balance. Prepare a cash budget. Complete this question by entering your answers in the tabs below. The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the foliowing month. Prepare a cash payments budget for inventory purchases. Noten Round your final answers to the nearest whole dollar amounts