Prepare a Cash Budget for One Month The following information is available for July 20X8. Budgeted Receipts from Credit Sales $500,000 Budgeted Cash Sales 40,000 Budgeted Cash Payments 577,000 Beginning cash balance for July is expected to be $95,000. The company intends to maintain a cash balance of at least $75,000. The company has made arrangements to borrow from a local bank if necessary Prepare a cash budget for July 20X8