Prepare Cash Budget from Budgeted Transactions McCall Company anticipates a cash balance of $118,000 on July 1, 2019. The following budgeted transactions for July 2019 present data related to anticipated cash receipts and cash disbursements: 1. For July, budgeted cash sales are $90,000 and budgeted credit sales are $618,000 (Credit sales for June were $550,000) in the month of sale. 40% of credit sales are collected, with the balance collected in the month following sale. 2. Budgeted merchandise purchases for July are $358,000 (Merchandise purchases in June were $290,000. In the month of purchase, 70% of merchandise purchases are paid for, and the balance is paid for in the following month 3. Budgeted cash disbursements for salaries and operating expenses for July total $218.000 4. During July, $30,000 of principal repayment and $5,000 of interest payment are due to the bank 5. A $25,000 income tax deposit is due to the federal government during July 6. A new delivery truck will be purchased during July for $10.500 cash and a $10,000 note payable. Depreciation for July will be $800. Prepare a cash budget for McCall Company for the month of July 2019: McCall Company Cash Budget for the Menth Ended July 31, 2019 Beging cash balance Cash receipt Cash sales Collections en credit sales Cachable Cash disbursements Paymenes for merchand Salaries and operating experse payments Principal and interest payment Income tax depos Payment on truck Total cash disbursements Ending cash balance