Crew Clothing (CC) sells women's resort casual clothing to high-end department stores and in its own retail boutiques. CC expects sales for January, February, and March to be $540,000, $600,000, and $620,000, respectively. Twenty percent of CC's sales are cash, with the remainder collected evenly over two months. During December, CC's total sales were $850,000. CC is beginning its budget process and has asked for your help in preparing the cash budget. Compute CC's expected cash receipts from customers for each month. January February March Budgeted cash receipts 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 Cash Expenses Sales Purchases Paid 96,000 $ 63,000 $ 24,000 118,000 86,000 28,000 137,000 113,000 32,750 130,000 79,000 32,900 The majority of Martin's sales (60 percent) are cash, but a few of the excursion companies purchase on credit of the credit sales, 30 percent are collected in the month of sale and 70 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar.) July August