Records of Recycling Ltd Contain the Following Data $\quad$ $\quad$ $\text { Opening bank balance } \$ 35,000$

question 18

Essay

Records of Recycling Ltd contain the following data:
$\quad$$\quad$$\text { Opening bank balance } \$ 35,000$
$\begin{array}{lll}&\text { Sales } & \text { Purchases } \\\text { May } & \$ 60,000 & \$ 20,000 \\\text { June } & 70,000 & 30,000 \\\text { Iuly } & 80,000 & 25,000\end{array}$ All sales are on credit. Records show that 80% of the customers pay during the month of the sale, 15% pay in the month after the sale, and the remaining 5% pay in the second month after the sale. Purchases are all paid the following month at a 1% discount. Cash disbursements for operating expenses in July were $8 000.
REQUIRED:
Prepare a cash budget for July.
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Definitions:

Electrodes

Conductive materials that are used to establish electrical contact with a nonmetallic part of a circuit, like the human body.

Endorphins

Neurochemicals produced by the body that reduce pain and boost happiness, often referred to as "feel-good" hormones.

Pain

A discomforting sensation often associated with damage to the body, signaling harm or potential injury.

Pleasure

A feeling of happiness, satisfaction, or enjoyment that can be derived from physical, emotional, or cognitive experiences.