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Problem $7-2$A $($Algo$)$ Manufacturing: Cash budget and schedule of cash payments LO P$2$

$[$The following information applies to the questions displayed below.$]$

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

$\backslash$table$[[,$July,August,September$],[$Budgeted sales,$$60,000,$$$76,000,$$$52,000],[$Budgeted cash payments for,,,$],[$Direct materials,$16,960,14,240,14,560],[$Direct labor,$4,840,4,160,4,240],[$Overhead$,21,000,17,600,18,000]]$

Sales to customers are $30\%$ cash and $70\%$ on credit. Sales in June were $$62,000.$ All credit sales are collected in the month following the sale. The June $30$ balance sheet includes balances of $$31,000$ in cash and $$5,800$ in loans payable. A minimum cash balance of $$31,000$ is required. Loans are obtained at the end of any month when the preliminary cash balance is below $$31,000.$ Interest is $1\%$ per month based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. Any preliminary cash balance above $$31,000$ 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 $($ $$4,800$ per month$),$ and rent $($ $$7,300$ per month$).$

Problem $7-2$A $($Algo$)$ Part $2$

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

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign. Enter your final answers in whole dollars.

$\backslash$table$[[$BUILT$-$TIGHT$],[$Cash Budget$],[,$July,August,September$],[$Beginning cash balance$],[,,,],[$Total cash available$],[$Less: Cash payments for$],[,,,],[,,,],[,,,],[,,,],[$F$],[$F$],[,,,],[$Total cash payments$],[$Preliminary cash balance$],[$Loan activity$],[$Additional loan$],[$Repayment of loan to bank$],[$Ending cash balance$],[$Loan balance$],[,$July,August,September$],[$Loan balance $-$ Beginning of month$],[$Additional loan $($loan repayment$)],[$Loan balance $-$ End of month,,,$]]$