need help with this part

Problem Set C-Description Preparing a Cash Budget Antonio Pizza Parlor provided the following information for the month of July: 1. Sales are budgeted to be $177,000. About 80% of sales is cash: the remainder is on account. 2. Antonio Pizza Parlor expects that, on average, 75% of credit sales will be paid in the month of sale, and 25% will be paid in the following month. 3. Food and supplies purchases, all on account, are expected to be $124,000. Antonio Pizza Parlor pays 30% in the month of purchase and 70% in the month following purchase. 4. Most of the work is done by the owners, who typically withdraw $8,000 a month from the business as their salary. (Note: The $8,000 is a payment in total to the two owners, not per person.) Various part-time workers cost $7,800 per month. They are paid for their work weekly, so on average 80% of their wages are paid in the month incurred and the remaining 20% in the next month. 5. Utilities average $5,300 per month. Rent on the building is $4,700 per month. 6. Insurance is paid quarterly; the next payment of $1,400 is due in October. 7. June sales were $192,000 and purchases of food and supplies in June equaled $138.000, 8. The cash balance on July 1 is $4.500. 1). Calculate the cash receipts expected in July (show all calculations). 2). Calculate the cash needed in July to pay for food purchase (show all calculations). 3). Prepare a cash budget for the month of July (use Excel Worksheet O June collection B Cash Receipts for July: 10 July cash sales Schedule of Cash Receipts July A/R sales 5 6 Total cash collections 7 8 9 Antonio Pizza Parlor Schedule of Cash Disbursements Cash Disbursements for July: June payment July payment Total cash disbursements Beginning Cash Balance Purchases Total Cash Collections Total Cash Available Less Disbursements: K Owner's Draw Utilities L Antonio Pizza Parlor Cash Budget Worker's Wages Rent Insurance Total Disbursements Ending Cash Balance 4500 177750 182250 133800 8000 7800 5300 4700 1400 161000 21250 M E 69F Mostly cl... N O C E 9