Cash Budget The Peoria Supply Company sells for $30 one product that it purchases for $20. Budgeted sales in total dollars for next year are $720,000. The sales information needed for preparing the July budget follows: Sales Revenue Month May July August. $30,000 42,000 51,000 54,000 Account balances at July 1 include these: $20,000 ..18,000 . . . . The company pays for one-half of its purchases in the month of purchase and the remainder in the following month. End-of-month inventory must be 50 percent of the budgeted sales in units for the next month. A 2 percent cash discount on sales is allowed if payment is made during the month of