se 22-25A andising: ing a cash budget Use the following information to prepare the July cash budget for Acco Co. It should show ex receipts and cash payments for the month and the cash balance expected on July 31 a. Beginning cash balance on July 1: $50,000. b. Cash receipts from sales: 30% is collected in the month of sale, 50% in the next month, and 20% in the pected cash second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are: May (actual), $1,720,000; June (actual), $1,200,000; and July (budgeted), S1,400,000