The management of West Valley Memorial Hospital needs to prepare a cash budget for July 2000. The following information is available:

a. The cash balance on July 1,2000 , is $\$ 236,000$.

b. Actual services performed during May and June and projected services for July are:

\begin{tabular}{|c|c|c|c|}

\hline & May & June & July \\

\hline \multicolumn{4}{|l|}{ Cash services (bills paid by individuals } \\

\hline as they leave the hospital) . . . . . . . . & $\$ 110,000$ & $\$ 90,000$ & $\$ 120,000$ \\

\hline \multicolumn{4}{|l|}{ Credit services (bills paid by insurance } \\

\hline companies and Medicare). . . . . . . . . & 900,000 & $1,000,000$ & 875,000 \\

\hline

\end{tabular}

Credit sales are collected over a 2-month period, with 60 percent collected during the month the service is performed and 40 percent in the following month.

c. Hospital personnel plan to purchase $\$ 80,000$ of supplies during July on account. Accounts payable are usually paid one-half in the month of purchase and one-half in the following month. The Accounts Payable balance on July 1, 2000, is $\$ 35,000$.

d. Salaries and wages paid during July will be approximately $\$ 600,000$. (Ignore income and other tax withholdings.)

e. Depreciation on the hospital and equipment for July will be $\$ 100,000$.

f. A short-term bank loan of $\$ 80,000$ (including interest) will be repaid in July.

g. All other cash expenses for July will total $\$ 56,000$.

Prepare the hospital's July cash budget.