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	Sales		Purchases		Cash Expenses Paid
May	$	93,000	$	66,000	$	20,000
June		125,000		92,000		28,500
July		139,000		116,000		32,500
August		131,000		79,000		32,900

The majority of Martins 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 Martins 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.

2. Determine budgeted cash payments for July and August.

Check my work 11 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. 1 Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. points eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 References Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar.) July August Budgeted Cash Collections Mc Graw Hill Check my work 11 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. 1 Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. points eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 References Determine budgeted cash payments for July and August. July August Budgeted Cash Payments Mc Graw Hill