The following information is available for July 2005.

Beginning cash balance for July is expected to be \($95,000\). The company intends to maintain a cash balance of at least \($75,000\). The company has made arrangements to borrow from a local bank if necessary.
Required: Prepare a cash budget for July 2005.

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Budgeted Receipts from Credit Sales $500,000 Budgeted Cash Sales 40,000 Budgeted Cash Payments 577,000