Peters Electrical starts the month of July (1st July) with a Bank Balance of $3500. During the month of July the following transactions are expected to occur:

Sales: $100000 of which 30% is cash and &0% on credit

Wages to be paid: $15000

Rent to be paid: $10000

Purchases: $50000

Depreciation: $4000

Office Expenses: $2000

Purchases are all cash transactions

60% of credit sales are collected in the month of the sales, 30% in the following month and 10% in the second month after

Budgeted sales for: May $90000, June $110000


Required: Prepare a cash budget for the month of July (No GST required)