M&H Ltd. budgeted the following information for 2022:

May $50,000 June $60,000 July $45,000 August $55,000

Budgeted purchases

Cost of goods sold is 50% of sales. Accounts payable is used only for inventory acquisition

M&H purchases and pays for merchandise 50% in the month of acquisition and 50% in the following month

Selling and administrative expenses are budgeted at $30,000 for May and are expected to increase 2% per month. They are paid during the month of acquistion In addition, budgeted Depreciation is $5,000 per month.

M&H pays $700 per month for its 5% note payable and interest.

New equipment costing $12,000 will be purchased in June and an additional equipment purchased for $3,000 will be made in July. Depreciation on the new equipment will start in the month of purchase.

Income taxes are $5,000 for July and are paid in the month incurred.

How much are the budgeted cash disbursements for July?