Use the following information to prepare the September cash budget for PTO Company. Ignore the $$Loan activity$$ section of the budget.

Beginning cash balance, September $1,$ $$49,000.$

Budgeted cash receipts from September sales, $$265,000.$

Direct materials are purchased on credit. Purchase amounts are August $($actual$),$ $$71,000$; and September $($budgeted$),$ $$102,000.$ Payments for direct materials follow: $60\%$ in the month of purchase and $40\%$ in the first month after purchase.

Budgeted cash payments for direct labor in September, $$33,000.$

Budgeted depreciation expense for September, $$3,300.$

Budgeted cash payment for dividends in September, $$54,000.$

Budgeted cash payment for income taxes in September, $$10,500.$

Budgeted cash payment for loan interest in September, $$1,500.\backslash$table$[[$PTO COMPANY$],[$Cash Budget$],[,$September$],[$Beginning cash balance,$49,000vv$