QS E Conner Company is a medium-sized toy distributor. Experience has shown that 30% of sales are cted within the month of sale, 60% s colected the month after the sale, and 10% s collected two months after the sale inventory on hand at the end of a month is to be 70% of the next months budgeted sales. month after purchase. All other costs are paid in the month incurred Budgeted amounts are as follows Cost of goods sold is 50% of the selling price. Payment for purchases is made in the March AprilMav Sales $10,000 $20,000 $30,000 $30.000 $50,000 $40,000 Costs Wages Rent Other 1,500 2.000 2 500 50500500 1.500 -500 400 500 6 600 How much is the expected cash disbursements in July for purchases Q10: Taft Corporation collects cash from customers as follows: 60% in the month of sale, 20% in month after sale, 19% in the second month after sale, and 1% is never collected. Bad debts are written off annually in December. Budgeted sales are all on credit and amount t BE t May $600,000 June 700,000 July 500,000 ugust 600,000 What is the budgeted amount of cash to be collected in July