Expected gross sales for May through December are listed below as well as the miscellaneous expenditures during the months July through December:

$12\%$ of the sales in any given month are collected during that month. However, the firm has a credit policy so factor a $3\%$ discount into the current month's sales collection.

$70\%$ of the sales in any given month are collected the following month after the sale.

$20\%$ of the sales in any given month are collected during the second month following the sales.

The expected purchases of raw materials in any given month are based on $65\%$ of the expected sales during the following month.

$100\%$ of its current month's raw materials purchases are paid in the following month.

$5\%$ of the current month's expected sales are paid in wages and salaries on a monthly basis.

$2\%$ of the current month's expected sales are made in monthly lease payments.

$3\%$ of sales amounts to the monthly advertising expense.

$10\%$ of sales are allocated in the months August, September, and October for R&D Expenditures.

$$30,000$ will be paid in December as prepayment for insurance for the following year.

$$45,000$ will be paid in September for taxes.

$$40,000$ will be paid in December for taxes.

$$25,000$ is the beginning cash balance in July.

$$20,000$ is the target cash balance each month.

Excel solution method: create cash budget for July $2020$ through December $2020,$

Display all values in whole numbers, no decimal places

Deer Company