Wolfpack Company is a merchandising company that is preparing a budget for the month of July. It has provided the following information: $1.$ All sales are on account. Thirty percent of the credit sales are collected in the month of sale and the remaining $\backslash (70\backslash \%\backslash )$ are collected in the month subsequent to the sale. The accounts receivable at June $30$ will be collected in July. $2.$ All merchandise purchases are on account. Twenty percent of merchandise inventory purchases are paid in the month of the purchase and the remaining $\backslash (80\backslash \%\backslash )$ is paid in the month after the purchase. $3.$ The budgeted inventory balance at July $31$ is $\backslash (\backslash$$ $36,200\backslash ).4.$ Depreciation expense is $\backslash (\backslash$$ $3,060\backslash )$ per month. All other selling and administrative expenses are paid in full in the month the expense is incurred. $5.$ The company's cash budget for July shows expected cash collections of $\backslash (\backslash$$ $94,300\backslash ),$ expected cash disbursements for merchandise purchases of $\backslash (\backslash$$ $73,800\backslash ),$ and cash paid for selling and administrative expenses of $\backslash (\backslash$$ $18,340\backslash )$