Built$-$Tight is preparing its master budget. Budgeted sales and cash payments follow:

July August September

Budgeted sales $ $58,500$ $ $74,500$ $ $53,500$

Budgeted cash payments for

Direct materials $16,06013,34013,660$

Direct labor $3,9403,2603,340$

Overhead $20,10016,70017,100$

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 month$).$

$2.$ Prepare a cash budget for the months of July, August, and September.