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Prepare Cash Budget from Budgeted Transactions McCall Company anticipates a cash balance of $90,000 on...

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Accounting

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Prepare Cash Budget from Budgeted Transactions McCall Company anticipates a cash balance of $90,000 on july 1, 2019. The following budgeted transactons for july 2019 present drate teled to antopated sath recepts and cash disbursements: 1. For July, budgeted cash sales are 562,000 and budgeted credit sales are 5590,000 , (Credit sales for june were s550,000) in the month of swee. 40 of of chost sales are collected, with the balance collected in the month following sale. 2. Budgeted merchandise purchases for July are $330,000. (Merchandise purchases in june were 5290,0000 in the month of purchase. 70\% of merthanisse putchist are paid for, and the balance is paid for in the following month. 3. Budgeted cash disbursements for salaries and operating expenses for July total si 190,000 , 4. During July, 530,000 of principal repayment and $5,000 of interest payment are due to the bank, 5. A 525,000 income tax deposit is due to the federal government during juy. 6. A new delivery truck will be purchased during juty for 35,000 cash and a 510,000 note payable. Deprecistion for jay wil be 3525. Prebare a cash budget for McCall Company for the month of july 2019

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