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	Sales		Purchases		Cash Expenses Paid
May	$	91,000	$	65,000	$	23,000
June		118,000		93,000		24,000
July		139,000		111,000		37,500
August		131,000		76,000		30,800

The majority of Martins 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 Martins 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.

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 Sales Purchases Cash Expenses Paid May $ 97,000 $ 61,000 $ 22,000 June 118,000 88,000 28,500 July 135,000 111,000 33,500 August 130,000 74,000 30,800 The majority of Martins sales (75 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martins 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 Budgeted Cash Collections Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments 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 Budgeted Cash Collections Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments