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 Paid Month May June Sales Purchases $92,000 $ 63,000 $ 23,000 27,500 38,000 32,900 118,000 138,000 131,000 91,000 119,000 70,000 August The majority of Martin's sales (70 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 Martin's 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. (Round your intermediate calculations and final answers to nearest whole dollar.) August Budgeted Cash Collections 2. Determine budgeted cash payments for July and August. July August Budgeted Cash Payments