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CH 14 Assessment Los 13) Help Save & Sun 6 Vernon Company, which sells electric rarors, nad 5370,000 of cost of goods sold ourng the month of June. The company projects percent increase in cost of goods sold during July The memory balance as of June 30 is $30.000, and the desired ending inventory Delance for $31000 Vemon pays cash to secie 75 percent of sporchases on account curing the month of purchase and pay the remaining 25 percent in the month following the purchase. The accounts payable balance as of June 30 was $26,000 Required 25 a. Determine the amount of purchases budget for July b. Determine the amount of cash payments budgeted for inventory purchases in My 01. Dit puro D. Chamon