14 0.75 points eBook Hint Print References Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year: Month May June July August Sales $ 100,000 118,000 132,000 129,000 Purchases $ 61,000 88,000 118,000 79,000 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 25 percent are collected in the month of sale and 75 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month of purchase and 45 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. Required 1 Required 2 Cash Expenses Paid $ 22,000 26,000 35,000 30, 100 Complete this question by entering your answers in the tabs below. Budgeted Cash Collections Determine budgeted cash collections for July and August. Note: Round your intermediate calculations and final answers to nearest whole dollar. July August

Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It selis to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is availeble for several months of the current year: The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 25 percent are collected in the month of sale and 75 percent are collected in the following month. All of Martin's purchases are on occount with 55 percent paid in the month of purchase and 45 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. Complete this question by entering your answers in the tabs below. Determine budgeted cash collections for July and August. Note: Round your intermediate calculations and final answers to nearest whole dollar: Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year: The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 25 percent are collected in the month of sale and 75 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month of purchase and 45 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Dotermine budgeted cash payments for July and August. Complete this question by entering your answers in the tabs below. Determine budgeted cash payments for July and August