The Peoria Supply Company sells for $$30$ one product that it purchases for $$20.$ Budgeted sales in total dollars for next year are $$720,000.$ The sales information needed for preparing the July budget follows:

Month Sales Revenue

May $ $30,000$

June $42,000$

July $51,000$

August $54,000$

Account balances at July $1$ include these:

Cash $ $20,000$

Merchandise inventory $18,000$

Accounts receivable $($sales$)23,000$

Accounts payable $($purchases$)12,000$The company pays for one$-$half of its purchases in the month of purchase and the remainder in the following month. End$-$of$-$month inventory must be $50$ percent of the budgeted sales

in units for the next month. A $2$ percent cash discount on sales is allowed if payment is made during the month of sale. Experience indicates that $50$ percent of the billings will be

collected during the month of sale, $40$ percent in the following month, $8$ percent in the second following month, and $2$ percent will be uncollectible. Total budgeted selling and

administrative expenses $($excluding bad debts$)$ for the fiscal year are estimated at $$180,000,$ of which one$-$half is fixed expense $($inclusive of a $$18,000$ annual depreciation charge$).$ Fixed

expenses are incurred evenly during the year. The other selling and administrative expenses vary with sales. Expenses are paid during the month incurred. $($Round your answers to the

nearest whole number.$)$

Part A Part B Part C

$($d$)$ Prepare a cash budget in summary form for July.

Do not use negative signs with any of answers below.