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 avallable for several months of the current year: The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. of the credit soles, 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 45 percent paid in the month of purchase and 55 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 collections for July and August. Note: Round your intermediate calculations and final answers to nearest whole dollar: 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 cesert for fourists. The following information is available for several montis of the current year: The majority of Martin's sales (70 percent) are cash, but o 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 occount with 45 percent paid in the month of purchase and 55 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 payments for July and August