Use the following information to prepare a budgeted balance sheet Enzs Company for the month of July. Show all calculations for full points

a$.$ The budgeted net income for the month of July is $$101,000.$

b$.$ The beginning cash balance is $$95,000$; budgeted cash receipts are $$1,525,000$; budgeted cash disbursements are $$1,475,000.$

c$.$ Budgeted sales for June and July are $$1,630,000$ and $$1,710,000,$ respectively. Collections are $25\%$ in the month of sale and account receivable is expected to be $75\%$ in the month following.

d$.$ The projected merchandise inventory balance is $25\%$ of the following month$$s sales. Sales for August are projected to be $$1,670,000.$

e$.$ Purchases of inventory are paid $70\%$ in the month of purchase and $30\%$ in the month following. Budgeted purchases for July are $$990,000.$

f$.$ The Balance Sheet for June $31$ shows equipment of $$410,000$ with accumulated depreciation of $$28,000,$

g$.$ There is an outstanding loan balance of $$920,000.$

h$.$ Accrued income taxes payable for July $31$ are $$110,000$ and accrued salaries payable are $$132,500$

i$.$ The only other balance sheet accounts are Common Stock, with a balance of $$528,500$ on June $31,$ and Retained Earnings with a balance of $$78,000$ on June $31.$