& prepare the July cash budget

Use the following information to prepare the July cash budget for Acco Co It should show expected cash recespts and cash payments for the month and the cash balance expected on July 31 a. Beginning cash balance on July t $71,000 b.Cash receipts from sales 30%iscoleded in the month of Sale, 50% in the next month, and 20% in the second month after sale uncollectible accounts are negligible and can be ignored) Sales amounts are May (actual), $1,980,000, June (actual. $1,430,000, and July (budgeted, $1,560,000 c. Payments on merchandise purchases 75% In the month of purchase and 25% In the month followng purchase Purchases amounts Sktowl are June (actuan, $490,000, and July (budgeted), $490,000 d. Budgeted cash payments for salanes in July $110,000 e Budgeted depreciation expense for July $12.000 t Other cash expenses budgeted for July $240,000 9 Accrued income taxes due in July $100,000 h. Bank loan interest paad in July $8,000 Complete this question by entering your answers in the tabs belovw Calculation Cash Budget Calculate the budgeted cash recelpts and cash payments of Cash from Sales Collected in July 3 Total Sales Credt sales om 1.980 000 1 430 00 1560 000 49TO 000 May Totals July 31 Total Purchases June July Accounts Pay. Purchases rom 490 000 490 000 Totais Cash Budget>