The following information applies to the questions displayed below) Bult-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and payments for product costs for the quarter follow: cash Budgeted sales Budgeted cash Direct materials Direct labor 16,468 13,740 14,060 3,740 20,580 17,100 17,580 4,348 3,660 Sales are 25% cash and 75% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,300 in accounts receivable: $4,800 in accounts payable and a $5,300 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales c ($4,300 per month), and rent ($6,800 per month). s (10% of sales), office salaries (2) Prepare a cash budget for each of the months of July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Enter your final answers in whole dollars.) BUILT-TIGHT For July, August, and September Se July 15,000 s 15,000 60,925 75,92581500 71.250 66.500 Cash payments for Direct materials 16.460 13,740f 14,060 60,925 75,925 16.460 13.,740 3,740