Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heatIt 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

The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales45 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 45 percent paid in the month of purchase and 55 percent paid the following month.

Requlred: 1. Determine budgeted cash collections for July and August.

2. Determine budgeted cash payments for July and August.

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 Cash Expenses Sales Purchases Paid 91,000 $ 66,000 $ 23,000 124,000 89,800 23,500 139,000 112,000 34,25e 125,000 72,800 29,400 The majority of Martin's sales (65 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 45 percent paid in the month of purchase and 55 percent paid the following month. Requlred: 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 whole dollar.) July August Budgeted Cash Collections