Render CPA is preparing direct labor budgets for the current year. The partners budget billable hours for the year as follows. The company budgets $10 per hour to data-entry clerks, $39 per hour to audit personnel, $54 per hour to tax personnel, and $54 per hour to consulting personnel. Prepare a direct labor budget for this service company for the year. Sales are 20% cash and 80% on credit. Sales in June were $57,150. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $13,200 in cash and $5,900 in loans payable. A minimum cash balance of $13,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $13,000. Interest is 2% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If a preliminary cash balance above $13,000 at month-end exists, loans are repaid from the excess. Expenses are paid in the month incurred and consist of sales commissions (5\% of sales), office salaries ( $4,900 per month), and rent ($7,400 per month). (1) Prepare a schedule of cash receipts from sales for July, August, and September. (2) Prepare a cash budget for July, August, and September. Complete this question by entering your answers in the tabs below. Prepare a cash budget for July, August, and September. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar. Kelsey is preparing its master budget. Budgeted sales and cash payments for merchandise purchases for the next three months follow. Sales are 20% cash and 80% on credit. Sales in June were $57,150. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $13,200 in cash and $5,900 in loans payable. A minimum cash balance of $13,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $13,000. Interest is 2% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If a preliminary cash balance above $13,000 at month-end exists, loans are repaid from the excess. Expenses are paid in the month incurred and consist of sales commissions ( 5% of sales), office salaries ($4,900 per month), and rent ($7,400 per month). (1) Prepare a schedule of cash receipts from sales for July, August, and September. (2) Prepare a cash budget for July, August, and September. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash receipts from sales for July, August, and September. Hardy Company reports budgeted merchandise purchases below. For those purchases, 40% of a month's purchases is paid in the month of purchase, and 60% is paid in the first month after purchase. Prepare the schedule of cash payments for merchandise purchases for September and October. Ahmed Company purchases all merchandise on credit. It recently budgeted the month-end accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,400,000; July, $1,300,000; and August, $1,500,000. Hint: Use the relation (Beginning Accounts Payable + Purchases on Credit - Payments on Accounts Payable = Ending Accounts Payable) to solve for budgeted purchases