You are the accountant of a small company and the owner has asked you to prepare a cash budget for the month of July. From the following information calculate your expected cash payments for July. Budgeted figures for July Telephone and Internet expense 500 Wages expense 1,450 Advertising expense 1,050 Depreciation expense 650 Insurance expense 525 The insurance is paid 6 months in advance in May. A new computer will be purchased costing $700