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 Sales $ 95,000 $ June July August 119,000 136,000 135,000 Cash Expenses Purchases Paid 60,000 $23,000 91,000 25,000 112,000 34,250 74,000 29,400 The majority of Martin's sales (70 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 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. Required 1 Required 21 Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar.) Budgeted Cash Collections July August Required 2> Required 1 Required 2 Determine budgeted cash payments for July and August. Budgeted Cash Payments July August