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 May June July August Cash Paid 24,000 Sales Purchases $ 98,000 $ 63,000 $ 23,000 124,000 139,000 132,000 90,000 115,000 76,000 33,000 30,800 The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 25 percent are collected in the month of sale and 75 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