(Budgeting cash disbursements) The City of Argus is preparing its cash budget for the month of July. The fol- lowing information is available with respect to its proposed disbursements.

Items vouchered in July $650,000 Estimated payments in July for items vouchered in July 50%
Items vouchered in June $400,000 Estimated payments in July for all items vouchered in June 70%
Estimated payments in July for items vouchered prior to June $ 50,000 Items purchased and vouchered in June but returned in July before payment was made $ 20,000 Required: What are the estimated cash disbursements for July?

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Items vouchered in July Estimated payments in July for items vouchered in July Items vouchered in June Estimated payments in July for all items vouchered in June Estimated payments in July for items vouchered prior to June Items purchased and vouchered in June but returned in July before payment was made $650,000 50% $400,000 70% $ 50,000 $ 20,000