Preparing a financial budget e. Use the following June actual ending balances and July 31, 2020, budgeted amounts for Bingham to prepare a budgeted balance sheet for July 31, 2020. a. June 30 Merchandise Inventory balance, $17,750 b. July purchase of Merchandise Inventory, $4,300, paid in cash c. July payments of Accounts Payable, $8,200 d. June 30 Accounts Payable balance, $10,600 June 30 Furniture and Fixtures balance, $34,500; Accumulated Depreciation balance, $29,830 f. June 30 total stockholders' equity balance, $28,360 g. July Depreciation Expense, $900 h. Cost of Goods Sold, 50% of sales i. Other July expenses, including income tax, $6,000, paid in cash j. June 30 Cash balance, $11,400 k. July budgeted sales on account, $12,700 1. June 30 Accounts Receivable balance, $5,140 m. July cash receipts from collections on account, $14,200 Hint: It may be helpful to trace the effects of each transaction on the accounting equation to determine the ending balance of each account