Use the following information to prepare the July cash budget for Pinkie Pie Company for July 31, 2021. a.) Beginning cash balance on July 1: $55,000. b.) Cash receipts from sales: 10% is collected in the month of sale, 50% in the next month, and 40% in the second month after sale. Sales amounts are: May (actual), $1,700,000; June (actual), $1,000,000; and July (budgeted), $1,500,000. c.) Payments to suppliers for merchandise purchases: 85% in the month of purchase and 15% in the month following purchase. Purchases amounts are: June (actual), $590,000; and July (budgeted), $770,000. d.) Budgeted cash disbursements for salaries in July: $297,000. e.) Budgeted depreciation expense for July: $10,000. f.) Other cash expenses budgeted for July: $190,000. g.) Cash dividends to be paid in July: $70,000. Pinkie Pie's management stipulates that a $90,000 cash balance should be maintained