code AaBCDE ABECEDE AaBb EEZEA Heading Title 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 Sales Purchases May $96000 $69.000 June 116.000 90.000 July 135.000 118.000 August 130 000 78,000 Cash Expenses Paid $ 22.000 25.500 37,250 32,900 The majority of Martin's sales (60 percent) are cash, but a few of the excursion companies purchase on credit or the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin's purchases are on account with 45 percent paid in the month of purchase and 56 percent paid the following month Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August July August Budgeted Cash Collections S B Budgeted Cash Payments 3 | 4 | 5 |