McCall Company anticipates a cash balance LO4 of \($100,000\) on July 1, 2016. The following budgeted transactions for July 2016 present data related to anticipated cash receipts and cash disbursements:

1.For July, budgeted cash sales are \($72,000\) and budgeted credit sales are \($600,000.\) (Credit sales for June were \($550,000.)\) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale.

2.Budgeted merchandise purchases for July are \($340,000.\) (Merchandise purchases in June were

\($290,000.) In the month of purchase, 70% of merchandise purchases are paid for, and the balance is paid for in the following month.

3.Budgeted cash disbursements for salaries and operating expenses for July total 

\($200,000\).

4.During\) July, \($30,000\) of principal repayment and \($5,000\) of interest payment are due to the bank.

5.A \($25,000\) income tax deposit is due to the federal government during July.

6.A new delivery truck will be purchased during July for \($7,000\) cash and a \($10,000\) note payable.

Depreciation for July will be \($600\).

Prepare a cash budget for McCall Company for the month of July 2016.