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Bramble, Inc. has budgeted sales revenues as follows: Credit sales Cash sales Total sales June June July August $140,000 91,000 $231,000 $301,000 221,000 July $130,000 102,000 250,000 $ Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on account with 50% is paid in the month of purchase and 50% paid in the month following purchase. Budgeted inventory purchases are as follows: August 91,000 191,000 $380,000 $ 282,000 11 Other cash disbursements budgeted: (a) selling and administrative expenses of $53.000 each month, (b) dividends of $109,000 will be paid in July, and (c) purchase of equipment in August for $31,000 cash. The company's policy is to maintain a minimum cash balance of $50.000 at the end of each month. The company borrows money from the bank at 6% interest if necessary to maintain the minimum cash balance, Borrowed money is repaid in months when there is an excess cash balance. The beginning cash balance on July 1 was $50.000. Assume that borrowed money in this case is for one month. Prepare a cash budget for the month of july and aug.

Bramble, inc his budgeted sales revenues as follows