CA#33 Saved Help Save& ExitSubmit Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31 a. Beginning cash balance on July 1: $71,000 b. Cash receipts from sales: 15% is collected in the month of sale, 50% in the next month, and 35% in the second month after sale (uncollectible accounts are negligible and can be ignored), Sales amounts are: May (actua), $1.990,000. June (actual, $1.330,000, points and July (budgeted), $1,390,000o. c. Payments on mercha ndise purchases 80% in the month of purchase and 20% in the month following purchase, purchases amounts 04:02:26are: June (actual). $510,000; and July (budgeted), $670,000. d. Budgeted cash payments for salaries in July: $240000. e. Budgeted depreciation expense for July: $11,000 f. Other cash expenses budgeted for July: $120,000. g. Accrued income taxes due in July: $80,000. h. Bank loan interest paid in July: $9,000 Hint Complete this question by entering your answers in the tabs below Calculation Cash Budget Calculate the budgeted cash receipts and cash payments Calculation of Cash Recelpts from Sales July 31 Total Sales May June Credit sales from May June July 1,990,000 1,330,000 1,390,000 Help Save 2 Complete this question by entering your answers in the tabs below Calculation Cash Budget Calculate the budgeted cash receipts and cash payments. ints Calculation of Cash Receipts from Sales 04:02-12 July 31 Total Sales May June July Credit sales from: eBook May June $ 1,990,000 1,330.000 1,390,000 $ 4,710,000 Hint Totals References Calculation of Cash Paymen ise Paid in July 31 Total Purchases June July Purchases from: 510,000 670,000 $ 1,180,000 July Totals lculation Cash Budget CA#33 0 Saved Help Save & Exi 2 Complete this question by entering your answers in the tabs below. Calculation Cash Budget Prepare the July cash budget for Acco Co. points ACCO CO. Cash Budget For the Month Ended July 31 040152 eBook Total cash available Cash payments for Hint References Total cash payments Calculation