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 July August Sales Purchases 91,000 $ 65,000 121,000 89,000 136,000 118,000 131,000 71,000 Cash Expenses Paid 23,000 26,000 36,500 35,000 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 30 percent are collected in the month of sale and 70 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. (Round your intermediate calculations and final answers to nearest whole dollar.) July August 132,050 Budgeted Cash Collections $ (Required 1 Required 2 > Required 1 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments