You are responsible for preparing a cash budget for Country Qullts and have collected the following detalls:

a$.$ The cash balance on September $1$ is $$46,000$

b$.$ Actual sales for July and August and budgeted sales for September are shown below. Sales on account are collected over a three$-$

month period as follows: $20\%$ collected in the month of sale, $60\%$ collected in the month following sale, and $20\%$ collected in the

second month following sale. The company's bad debts are negliglble.

c$.$ Purchases of Inventory will total $$352,000$ for September. Forty percent of a month's inventory purchases are pald during the

month of purchase. The accounts payable remaining from August's inventory purchases total $$209,000,$ all of which will be paid in

September.

d$.$ Selling and administrative expenses are budgeted at $$505,000$ for September. Of this amount, $$60,700$ is for depreciation and

$$550$is for property taxes.

e$.$ Annual property taxes of $$102,000$ will be paid during September.

f$.$ The company maintains a minimum cash balance of $$20,000.$ An open Ine of credit is avallable from the company's bank to bolster

the cash position as needed. All borrowing occurs at the beginning of a month.

Required:

Prepare a schedule of expected cash collections for September.