GHI Enterprises provided the following information for the month of July 2023:

Cash balance on July 1: $15,000

Receipts:

• Cash Sales: $25,000
• Collection from Accounts Receivable: $8,000
• Dividend Received: $2,000

Payments:

• Salaries: $11,000
• Rent: $3,000
• Utilities: $1,000
• Advertising: $2,500

Requirements:

1. Prepare the cash receipts journal for July 2023.
2. Prepare the cash payments journal for July 2023.
3. Prepare the cash budget for July 2023.
4. Determine the cash balance as of July 31, 2023.
5. Assess the effect of the dividend received on the cash position.