On July 1, MTC Wholesalers had a cash balance of $125,000 and accounts payable (related to inventory purchases) of $160,000 , and Inventory of $78,000. Actual sales for May and June, and budgeted sales for July, August, September, and October are Month Actual Sales Month Budgeted Sales May $250,000 July $ 260,000 June 225,000 August 240,000 September 270,000 October 275,000 All sales are on credit with 60% collected during the month of sale, 30% collected during the next month, and 10% collected during the