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		Cash Expenses Paid
May	$	99,000	$	65,000	$	19,000
June		125,000		94,000		26,500
July		130,000		118,000		33,500
August		130,000		71,000		29,400

The majority of Martins sales (65 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 Martins purchases are on account with 40 percent paid in the month of purchase and 60 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
Budgeted Cash Collections

• Required 2

Determine budgeted cash payments for July and August.

	July	August
Budgeted Cash Payments