[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 25% cash and 75% on credit. Sales in June were $56,000. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $37,000 in cash and $4,900 in loans payable. A minimum cash balance of $37,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $37,000. 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 $37,000 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 ($3,900 per month), and rent ( $6,400 per Answer is not complete. Required information Add: Lasn receststs Total cash available Less: Cash payments for Interest on loan Total cash payments Preliminary cash balance Loan activity Additional loan Repayment of loan to bank Ending cash balance Loan balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month