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 May June July August Purchases $ 97,000 $69,000 88,000 120,000 74,000 Sales Paid 22,000 118,000 137,000 134,000 26,500 34,500 31,500 The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 30 percent are collected in the month of sale and 70 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. (Round your intermediate calculations and final answers to nearest whole dollar.) August Budgeted Cash Collections 2. Determine budgeted cash payments for July and August August Budgeted Cash Payments