Pregace the July coss oushet for Acou Company

Use the following information to prepare the July cash budget for Acco Company. Ignore the "Loan activity" section of the budget

a$.$ Beginning cash balance on July $1$:$$75,000.$

b$.$ Budgeted cash receipts from sales: $10\%$ is collected in the month of sale, $50\%$ in the next month, and $40\%$ in the second month sale. Sales amounts are May $($actual$),$ $$1,750,000$; June $($actual$),$ $$1,200,000$; and July $($budgeted$),$ $$1,540,000.$

c$.$ Budgeted cash payments on merchandise purchases: $75\%$ in the month of purchase and $25\%$ in the month following purchase Purchase amounts are June $($actual$),$ $$600,000$; and July $($budgeted$),$ $$510,000.$

d$.$ Budgeted cash payments for salaries in July: $$170,000.$

e$.$ Budgeted cash payments for sales commissions for July: $$240,000.$

f$.$ Budgeted cash payment for income taxes In July: $$70,000.$

g$.$ Budgeted cash payment for loan interest in July: $$6,500.$

$\backslash$table$[[$Calculation of Cash Payments for Merchandise$],[,$Total Purchases,Pald in$,\backslash$table$[[$July $31],[$Accounts$],[$payable$]]],[,$June,July$],[$Purchases from:$],[$June$,$$$,600,000,,,],[$July$,,510,000,,,],[$Totals$,$$$,1,110,000,$$$,s,$$