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

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Prepare a budgeted balance sheet for July $31,2024.($Hint: It may be helpful to trace the effects of each transaction on the accounting equation to determine the ending

Question $1$ balance of each account.$)$

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a$.$ June $30$ Merchandise Inventory balance, $$17,740$

b$.$ July purchase of Merchandise Inventory, $$4,600,$ paid in cash

c$.$ July payments of Accounts Payable, $$8,800$

d$.$ June $30$ Accounts Payable balance, $$10,200$

e$.$ June $30$ Furniture and Fixtures balance, $$34,700$; Accumulated Depreciation balance, $$29,830$

f$.$ June $30$ total stockholders' equity balance, $$28,990$

g$.$ July Depreciation Expense, $$300$

h$.$ Cost of Goods Sold, $40\%$ of sales

i$.$ Other July expenses, including income tax, $$5,000,$ paid in cash

j$.$ June $30$ Cash balance, $$11,400$

k$.$ July budgeted sales on account, $$12,100$

I. June $30$ Accounts Receivable balance $$5,180$

m$.$ July cash receipts from payments on account, $$14,400$