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 avaliable for several months of the current year. $ Month May June July August Cash Expenses Sales Purchases Paid 96,000 $ 68,000 $ 22,000 116,000 88,000 23,500 135,000 119,000 34,000 130,000 77,000 31,580 The majority of Martin's sales (60 percent) are cash, but a few of the excursion companies purchase on credit Of the credit sales. 45 percent are collected in the month of sale and 55 percent are collected in the following month. All of Martin's 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 calculation and tinatanowers to near whole dollar) July Aug Budgeted Cash Collections