4. Prepare a cash budget for the month of JULY only from the Beginning Cash Balance to the Ending Cash Balance. Do not include minimum cash balance in the original cash budget calculations. After you complete the July cash budget, what would you recommend the minimum cash balance be set at? Show ALL CALCULATIONS to get credit. See the budgeted information by month that is at the end of your information data sheet and the following: JULY 1 balance in Cash =$30,000. Collections: 60% collected in the current month and 40% is collected in the next month. Labor payments: 70% of hourly wages paid in the current month and 30% is paid in the next month. Materials payments: 100% is paid in the next month. Overhead payments: 100% is paid in the current month. Do not include minimum cash balance in the initial cash budget. At the end show what you think the minimum cash balance should be based on this month of information.