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: specially made for ton de pertheat, et sells to Month May June July August Cash Expenses Sales Purchases Paid $ 120,000 $ 90,000 $ 24,000 115,000 95,000 31,000 160,000 150,000 38,250 145,000 80,000 34,700 The majority of Martin's sales (70 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 Martin's purchases are on account with 55 percent paid in the month of purchase and 45 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. July August Budgeted Cash Collections Complete this question by entering your answers in the tabs below. Required 1 Required 1 Required 2 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments