Consider the following June actual ending balances and July 31, 2024 budgeted amounts for Odelles:

Consider the following June actual ending baiances and July 31, 2024 budgeted amounts for Odelles: Click the icon to view the information) Prepare a budgeted balance sheet for July 31, 2024. (Hint: It may be holplul to trace the eslects each transaction on the accounting equation to delermine the ending balance of each account.) Complete the accounting equation for the July coerating information. (Use a minus sign or pacentheses lo enter account roductions and contra asset belances and activily If an input field is not used in the equation teave it empty, do not entor a zero Abbreviations used: AP = Accounts Payable, AR = Accounts Receivable, Accum. Deprec, = Accumulated Depreciation, Merch. = Merchandise.) Start bv oredarino the asset section of the balance sheet then nrenare the liahilities and stockholders' equity section. a. June 30 Merchandise Inventory balance, $17,760 b. July purchase of Merchandise Inventory, $4,500, paid in cash c. July payments of Accounts Payable, $8,800 d. June 30 Accounts Payable balance, $10,500 e. June 30 Furniture and Fixtures balance, $34,300; Accumulated Depreciation balance, $29,850 f. June 30 total stockholders' equity balance, $28,600 g. July Depreciation Expense, $600 h. Cost of Goods Sold, 40% of sales i. Other July expenses, including income tax, $6,000, paid in cash j. June 30 Cash balance, $11,700 k. July budgeted sales on account, $12,500 I. June 30 Accounts Receivable balance $5,190 m. July cash receipts from payments on account, $14,800