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: Cash Expenses Month Sales Purchases Paid May $ 94 , 000 $ 69,000 $ 20 , 000 June 124, 000 88 ,000 26, 500 July 138 , 000 111, 000 35 , 750 August 129, 000 72, 000 31, 500 The majority of Martin's sales (60 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash collections for July and August. Note: Round your intermediate calculations and final answers to nearest whole dollar. July August Budgeted Cash Collections