Trim Trend has requested a cash budget for August. The following information was provided: 1. Cash balance on August 1 is $7,100. 2. Actual sales for June, July and August are as follows: Cash sales Credit sales Total Sales June July $18,000 $20,000 30,000 32,000 $48,000 $52,000 August $19,000 36,000 $55,000 3. Credit sales are collected as follows: 50 percent in the month of sale, 30 percent in the second month, and 10 percent in the third month. The remaining sales are uncollectible. 4. Inventory purchases are 65 percent of total monthly sales. Purchases are paid 60 percent in the month of purchase and the remaining 40 percent are paid in the following month. 5. Operating expenses for the month are $6,200, including $1,200 for depreciation. 6. Monthly salaries and owner's withdrawals $2,400. 7. Monthly rent $1,800. Required: Prepare a cash collections and cash payment schedule as well as a cash budget for the month of August. Total cash sales and collections on account for the month are $ AJ Total cash available for the month is $. AJ Payments for purchases during the month are $ Payments for other expenses during the month are $ AJ The ending cash balance for the month is $. AJ