Exercise Question 6 (5 points) Extending the class example of a cash budget to JULY Required: Fill in the blanks in the table below and calculate the ending cash balance for the month of July. Assume that in the month of July: credit sales in = $280,000 credit purchases = $95,000 Wages, taxes and expenses Interest Expenses = $4,000 : $10,400 Equipment Purchases = 0 Note: You may need to refer back to the class example for some information April May June Beginning cash balance $196,000 $249,230 $304,980 Cash receipts: Collections $188,750 $137,750 $151,650 $384,750 $386,980 $456,630 Total cash available Cash disbursements: $71,520 $71,000 $69,000 $8,000 $7,000 $8,400 $4,000 $4,000 $4,000 $52,000 $0 $2,500 $135,520 $82,000 $83,900 $249,230 $304,980 $372,730 Pay credit purchases Wages, taxes, Interest Equipment purchases Total cash disbursed expenses Ending cash balance July