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 $ 95,000$ 61,000 $23,000 June 119,000 91,000 25,500 July 136,000 114,000 33,250 August 129.000 71,000 32.900 The majority of Martin's sales (70 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 40 percent paid in the month of purchase and 60 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 Required 2 Determine budgeted cash collections for July and August (Round your intermediate calculations and final answers to nearest whole dollar) July August The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies percent are collected in the month of sale and 55 percent are collected in the following mo account with 40 percent paid in the month of purchase and 60 percent paid the following 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 calculatior whole dollar.) July August Budgeted Cash Collections 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. es Required 1 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments