Use the following information to prepare the July cash budget for Acco Company. Ignore the "Loan activity" section of the budget a. Beginning cash balance on July 1: $69,000 b. Budgeted cash receipts trom sales 35% is collected in the month of sale, 50% in the next month, and 15% in the second month after sale. Sales amounts are Moy foctual, $1,790,000, June (actual), $1,500,000, and July (budgeted), $1,490.000. c. Budgeted cash payments on merchandise purchases 65% in the month of purchase and 35% in the month following purchase Purchase amounts are June (actual). $590,000, and July (budgeted). $760,000. d. Budgeted cash poyments for salartes in July: $320,000 e. Budgeted cash poyments for sales commissions for July. $110.000. 4. Budgeted cosh payment for income taxes in July. $70,000 9. Budgeted cash poyment for loan interest in July. $8,000. Camplete this question by entering your answers in the tabs below. Culculate the budgeted zash receipts and eash paymenits. Caliculati the bucigetad cash recolpta and wash parmenty. Prepare the 3ef cait leritget loe Acce Cosmant. \& carculation Use the folfowing information to prepare the July cash budget for Acco Company. Ignore the "Loan activity" section of the budget a. Beginning cash balance on Juty 1,$69,000. b. Budgeted cash receipts from sales: 35% is collected in the month of sale, 50% in the next month, and 15% in the second month aner sale Sales amounts are May (actual), $1,790,000; June (actual), $1,500,000, and July (budgeted), $1,490,000. c. Budgeted cosh payments on merchandise purchases. 65% in the month of purchase and 35% in the month following purchase Purchase amounts are June (actuai), $590,000; and July (budgeted), $760,000 d. Budgered cash payments for salaries in July. $320,000. e. Budgeted cash payments for sales commissions for July $110,000 f. Budgeted cash payment for income taxes in July. $70.000. 9. Budgeted cash payment for loan interest in July. $8,000. Complete this question by entering your answers in the tabe below. Prepare the July canth budget for Acce Company? Complete this question by entering your answers in the tabs below. Calculate the budgeted cash receipts and cash payments. Cenrplete this questian lay entering your anwwers in the tabs below. Prepare the 3uly eash budget for Acco Cempany