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 fourists. The following information is available for several months of the current year: Month. May June July August Sales Cash Expenses Purchases Paid $ 100,000 $ 65,000 $ 21,000 120,000 131,000 125,000 94,000 24,000 112,000 33,500 70,000 30,800 The majority of Martin's sales (65 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 50 percent paid in the month of purchase and 50 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. 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 month. 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: 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. Budgeted Cash Payments July August flowing month.