PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management's most optimistic projections. Sales are made on account and collected as follows: 50% in the month after the sale is made and 45% in the second month after sale. Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased or the cost is incurred 75 % In the subsequent month 25 % PrimeTime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows: September October November December Sales $ 42,000 $ 54,000 $ 68,000 $ 59,000 Cost of goods sold: Beginning inventory $ 6,000 $ 14,400 $ 20,600 $ 21,900 Purchases 37,800 44,000 48,900 33,100 Cost of goods available for sale $ 43,800 $ 58,400 $ 69,500 $ 55,000 Less: Ending inventory (14,400 ) (20,600 ) (21,900 ) (20,000 ) Cost of goods sold $ 29,400 $ 37,800 $ 47,600 $ 35,000 Gross profit $ 12,600 $ 16,200 $ 20,400 $ 24,000 Operating expenses 10,500 12,800 14,300 16,100 Operating income $ 2,100 $ 3,400 $ 6,100 $ 7,900 Cash on hand August 31 is estimated to be $40,000. Collections of August 31 accounts receivable were estimated to be $20,000 in September and $15,000 in October. Payments of August 31 accounts payable and accrued expenses in September were estimated to be $24,000.Prepare a cash budget for August and September. (Enter all amounts as positive value except for Beginning Ending cash which has to be indicated with a minus sign if it is negative amount. Leave no cells blank - be certain to enter "0" wherever required.)