a. Beginning cash balance on July 1: $76,000. b. 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 (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual). $1.890,000; June (actual). $1,240,000. and July (budgeted). $1,560,000. c. Payments on merchandise purchases: 65% in the month of purchase and 35% In the month following purchase. Purchases amounts are: June (actual). $520,000: and July (budgeted). $540,000. d. Budgeted cash payments for salaries in July: $310.000. e. Budgeted depreciation expense for July: $15.000. f. Other cash expenses budgeted for July: $270.000. g. Accrued Income taxes due in July: $70,000. h. Bank loan interest pald in July $6.500. Ant Complete this question by entering your answers in the tabs below. Calculation Cash Budget Herece Calculate the budgeted cash receipts and cash payments Caleulation of Cash Receipts from Sales collected in Total Sales May July 31 Accounts Red June July Credit sales from May 1.800.000 in Glas 5 Calculation of cash Payments for Menchand se July 31 a total Furolases Jone July Accounts Pay Muchases item de a. Beginning cash balance on July 1: $76,000. b. 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 (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual). $1,890,000: June (actual). $1,240,000: and July (budgeted) $1.560,000. c. Payments on merchandise purchases: 65% in the month of purchase and 35% In the month following purchase. Purchases amounts are: June (actual). $520,000, and July (budgeted). $540,000. d. Budgeted cash payments for salaries in July: $310.000. e. Budgeted depreciation expense for July: $15.000 f. Other cash expenses budgeted for July $270.000. g. Accrued Income taxes due in July $70,000. h. Bank loan interest paid in July $6,500. Complete this question by entering your answers in the tabs below. Calculation Cesh Budget Prepare the lely cash budget for Acco Co. ACCO CO Cash Budget For the Month Ended July 31 Total cash available Cash payments for