Deacon Company is a merchandising company that is preparing a budget for the second quarter of the calendar year. The following

information is available.

Budgeting Assumptions:

a$.$ Sixty percent of sales are cash sales and $40$ percent of sales are credit sales. Twenty percent of all credit sales are collected in the

month of sale and the remaining $80$ percent are collected in the month subsequent to the sale.

b$.$ Budgeted sales for July are $$144,000$ while the budgeted cost of goods sold is $60\%.$

c$.10\%$ of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining $90\%$ of purchases are credit

purchases. All purchases on credit are paid in the month subsequent to the purchase.

d$.$ Each month's ending merchandise inventory should equal $$10,000$ plus $50\%$ of the next month's cost of goods sold.

e$.$ Depreciation expense is $$1,200$ per month. All other selling and administrative expenses are paid in full in the month the expense is

incurred.

Prepare a budgeted balance sheet at June $30.($Hint: You need to calculate the cash paid for selling and administrative

expenses during April, May, and June to determine the cash balance in your June $30$ balance sheet.$)$please answer required $4!$