1.    Assume the following information for the month of August. a.    JUNE SALES = $40,000 JULY SALES = $65,000 AUGUST SALES = $52,850. All...

1.    Assume the following information for the month of August.

a.    JUNE SALES = $40,000
JULY SALES = $65,000

AUGUST SALES = $52,850.

All sales are on account and are collected as follows:  20% in the current month, 50% in the month following, 25% in the second month following, and 5% uncollectible.  The beginning cash balance is $14,670, with cash payments of $24,653.  If the minimum cash balance is $40,000, what is the amount needed by the bank, or how much is available to paw towards the bank loan?  Show the amount needed as a positive number, and the amount to repay a loan as a negative number.