XYZ budgeted the following information:

	May	June	July	August
Budgeted Purchases of Inventory	$60,000	$70,000	$57,000	$64,000

XYZ pays for 50% of the months inventory purchases in the month of purchase.

They pay the remainder in the month following the purchase.

Selling and administrative expenses in June will be $12,000, and a 2% increase is expected for later months.

Monthly depreciation is $6,000.

XYZ has an outstanding line of credit for $15,000. They must pay interest each month, and the annual rate is 6%.

XYZ has budgeted an income tax payment in July of $5,000 as well as an equipment purchase of $15,000. Of this purchase price, $7,500 will be borrowed by issuing a one year 8% note payable.

Instructions

Provide a table that indicates budgeted cash disbursements for July. Your last row should be the total cash outlay for July.