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o. Beginning cash balance on July 1 $72.000 b. Cash receipts from sales: 10% is collected in the month of sale, 50% in the next

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o. Beginning cash balance on July 1 $72.000 b. Cash receipts from sales: 10% is collected in the month of sale, 50% in the next month, and 40% in the second month after sale (uncollectible accounts are negligible and can be ignored) Sales amounts are: May (actual), $1,890,000, June (actual), $1,260000 and July (budgeted). $1420,000 c. Payments on merchandise purchases 85% in the month of purchase and 15% in the month following purchase Purchases amour are: June (actua), $470,000, and July (budgeted), $780,000. d. Budgeted cash payments for salaries in July $350,000. e. Budgeted depreciation expense for July $12,000. t. Other cash expenses budgeted for July $150,000 g. Accrued income taxes due in July $70,000 h. Bank loan interest paid in July. $7,500 Complete this question by entering your answers in the tabs below CalculationCash Budget Calculate the budgeted cash receipts and cash payments. Cash from Sales -Collected in July 31 Total Sales Creait sales from May 1890000 189.000 94500 756,000 1,260000 1.420,000 4570,000 189,000 945,000 756,000 Juty Totais Paid in July 31 Accounts Pay. 470,000 950 70,500 780.000 July 1250000|S 399.500| C Prey 3 of 4 E Next e here to search a. Beginning cash balance on July 1 $72,000 , cash receipts from sales 10% is colected in the month of sale, 50% in the next month, and 40% in the second month after sale (uncollectible accounts are negigible and can be ignorea) Sales amounts are: May (actual), $1,890,000, June (actual, $1,260,000 and July (budgeted), $1,420000. c. Payments on merchandise purchases: 85% in the month or purchase and 15% in the month foliowing purchase Purchases amount are: June (actuan, $470.000, and July (budgeted), $780,000 d. Budgeted cash payments for salanes in July: $350,000 e. Budgeted depreciation expense for July $12,000 t Other cash expenses budgeted for July $150,000 g. Accrued income taxes due in July $70,000. h. Bank loan interest pad in July $7,500 Complete this question by entering your answers in the tabs below. Calculation Cash Budget Prepare the July cash budget for Acco Co. Cash Budget For the Month Ended Total cash available cash paytments 577 500 (577 500) Pe3o4 Next> O Type here to search

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