Question: can someone please help me with this Required information [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget. Budgeted

can someone please help me with this
can someone please help me with this Required information [The following information
applies to the questions displayed below.] Built-Tight is preparing its master budget.
Budgeted sales and cash payments follow: Sales to customers are 15% cash
and 85% on credit. Sales in June were $51,500. All credit sales

Required information [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: Sales to customers are 15% cash and 85% on credit. Sales in June were $51,500. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $55,000 in cash and $4,000 in loans payable. A minimum cash balance of $55,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $55,000. 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 $55,000 is used to repay loaps at month-end. Expenses are paid in the month incurred and consist of sales commissions (10\% of sales), office salaries ( $3,000 per month), and rent ( $5,500 per month). 1. Prepare a schedule of cash recelpts for the months of July, August, and September. 1. Prepare a schedule of cash receipts for the months of July, August, and September. 2. Prepare a cash budget for the months of July, August, and September. (Negative balances and Loan repayment amounts any) should be indicated with minus sign. Enter your final answers in whole dollars.)

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