3:26 Company has the following information for the current year. Cash Expenses Month Sales Purchases Paid May $ 99,000 $64,000 $ 24,000 June July 123,000 89,000 25,500 August 137,000 125,000 114,000 33,000 75,000 29,400 70 percent of sales are cash. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All purchases made by our company are on account with 60 percent paid in the month of purchase and 40 percent paid the following month. Required: Complete this question by entering your answers in the tabs below. Required 11 Required 2 Determine budgeted cash payments for July and August. Budgeted Cash Payments July August