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 $ Cash Expenses Sales Purchases Paid 98,000 $ 63,880 $ 23,000 119,000 86,000 26,500 133,000 112,680 37,660 125, eee 71,880 38,880 July August The majority of Martin's sales (60 percent) are cash, but a few of the excursion companies purchase on credito 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 55 percent pald 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 whole dollar July August Budgeted Cash Collections Required 2 > 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 payments for July and August. July August Budgeted Cash Payments