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Brief Exercise 14-3 (Algo) Determining the amount of expected inventory purchases and cash payments LO 14.3 Bianches Company, which selis Kombucha, had $155,000 of cost

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Brief Exercise 14-3 (Algo) Determining the amount of expected inventory purchases and cash payments LO 14.3 Bianches Company, which selis Kombucha, had $155,000 of cost of goods sold during the month of June. The compary projects a 10 percem increase in cost of goods sold during July The inwentory balence as of June 30 is $29,000, and the desired ending linentory balance for July is $7,300 The company poys cash to sotte 50 percent of its purchoses on account during the month of purchase and pays the remaining 50 percent in the month following the purchase. The accounts payable balance as of June 30 was $22,800 Required: a. Determine the amount of purchases budgeted for July. b. Determine the amount of castipsyments budgeted for inventory purchases in July Complete this question by entering your answers in the tabs below. Determine the amount of cash payments budgeted for inventory purchases in Julr

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