Complete the GST budget on the following page to anticipate GST liability.

July August September Budgeted cash receipts incurring GST: Cash sales 20,000 10,000 10,000 Cash revenue (besides sales) 0 0 0 Cash receipts from sale of assets (not stock) 0 0 0 Total receipts for GST 20,000 10,000 10,000 Budgeted non-cash receipts incurring GST: Debtors sales 180,000 230,000 150,000 Total non-cash receipts 180,000 230,000 150,000 Total budgeted receipts incurring GST 200,000 240,000 160,000 Budgeted cash payments incurring GST: Cash purchases of stock 0 0 0 Cash expenses 4,300 5,200 5,250 Total cash receipts incurring GST 4,300 5,200 5,250 Budgeted credit payments incurring GST: Credit purchases of stock incurring GST 25,000 30,000 25,000 Credit purchases of assets (besides stock) 4,300 5,200 5,250 Total cash payments incurring GST 29,300 35,200 30,250 Total budgeted cash payments incurring GST 33,600 40,400 35,500 GST cash budget calculations for three months july august sept a) Cash receipts b) Cash payments c) GST liability