**** HOW DO I FIND THE AMOUNT FOR THE MERCANDISE UNDER LESS: CASH PAYMENTS FOR????...
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**** HOW DO I FIND THE AMOUNT FOR THE MERCANDISE UNDER LESS: CASH PAYMENTS FOR???? *****
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a. Beginning cash balance on July 1:$77,000. b. Budgeted cash receipts from sales: 20% is collected in the month of sale, 50% in the next month, and 30% in the second month after sale. Sales amounts are May (actual), \$1,950,000; June (actual), $1,340,000; and July (budgeted), \$1,370,000. c. Budgeted cash payments on merchandise purchases: 55% in the month of purchase and 45% in the month following purchase. Purchase amounts are June (actual), \$550,000; and July (budgeted), \$660,000. d. Budgeted cash payments for salaries in July: $210,000. e. Budgeted cash payments for sales commissions for July: $190,000. f. Budgeted cash payment for income taxes in July: $70,000. g. Budgeted cash payment for loan interest in July: $9,500. Complete this question by entering your answers in the tabs below. Prepare the July cash budget for Acco Company. Calculate the budgeted cash receipts and cash payments
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