12.

a. Beginning cash balance on July 1:$50,000. b. Budgeted cash receipts from sales: 30% is collected in the month of sale, 50% in the next month, and 20% in the second month after sale. Sales amounts are May (actual), $1,720,000; June (actual), $1,200,000; and July (budgeted), $1,400,000. c. Budgeted cash payments on merchandise purchases: 60% in the month of purchase and 40% in the month following purchase. Purchase amounts are June (actual), $700,000; and July (budgeted), $750,000. d. Budgeted cash payments for salaries in July: $275,000 e. Budgeted cash payments for soles commissions for July: $200,000. f. Budgeted cash payment for income taxes in July: $80,000. 9. Budgeted cash payment for loan interest in July, $6,600. Complete this question by entering your answers in the tabs below. Prepare the July cash budget for Acco Company