CH 8 Exercises Seved Help Save & Exit Submit Check my work 9 Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to inclividuals 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. 1 points 8 02:31:30 Month May June July August Cash Expenses Sales Purchases Paid $ 93,600 5 64,000 $ 19, eee 125,000 89, een 24,5ee 134,680 110,000 33, eee 133, eee 79, een 33, tee ellook Hint The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales. 35 percent are collected in the month of sale and 65 percent are collected in the following month. All of Martin's purchases are on account with 50 percent paid in the month of purchase and 50 percent paid the following month Required: 1. Determine budgeted cash collections for July and August 2. Determine budgeted cash payments for July and August. n References Complete this question by entering your answers in the tabs below. Required: Required 2 Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar) July August Budgeted Cash Collections Required Required 2 > CH 8 Exercises 0 Seved Help Save & Exit Submit Check my work 9 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: 1 1 points 8 02:29:40 $ Month May June July August Cash Expenses Sales Purchases Paid 93, see $ 64,880 $ 19,889 125, eee 88,022 24,500 134, see 110,000 33,00 133, eee 73.00 33,600 Book The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 35 percent are collected in the month of sale and 65 percent are collected in the following month. All of Martin's purchases are on account with 50 percent paid in the month of purchase and 50 percent paid the following month. Hint Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments