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

Built$-$Tight is preparing its master budget. Budgeted sales and cash payments follow:

July August September

Budgeted sales $ $62,500$ $ $78,500$ $ $49,500$

Budgeted cash payments for

Direct materials $16,46013,74014,060$

Direct labor $4,3403,6603,740$

Overhead $20,50017,10017,500$

Sales to customers are $25\%$ cash and $75\%$ on credit. Sales in June were $$58,000.$ All credit sales are collected in the month following the sale. The June $30$ balance sheet includes balances of $$21,000$ in cash and $$5,300$ in loans payable. A minimum cash balance of $$21,000$ is required. Loans are obtained at the end of any month when the preliminary cash balance is below $$21,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. Any preliminary cash balance above $$21,000$ 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 $($$$4,300$ per month$),$ and rent $($$$6,800$ per month$).$

$1.$ Prepare a schedule of cash receipts for the months of July, August, and September.