Martin Clothing Company is a retail company that selis 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 svallable for several months of the current year: The majority of Martin's sales ( 65 percent) are cash, but a few of the excursion companies purchase on credit. Or 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 purchuses are on account with 55 percent paid in the month of purchase and 45 percent pald 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 payments for July and August. ind(viduals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is avaliable for several months of the current year: The majority of Martin's sales ( 65 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 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 collectiolis for July and August. (Round your intermediate calculations and final answers to nearest whole doliar.)