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:

The majority of Martin's sates (65 percent) are cash, but a few of the excursion companies purchase on creditthe credit sales 35 percent are collected in the month of sale and 65 percent are collected in the following monthof Martin's purchases are on account with 40 percent paid in the month of purchase and percent paid the following month

Required: 1. Determine budgeted cash collections for July and August . 2. Determine budgeted cash payments for July and August

$ Month May June July August Cash Expenses Sales Purchases Paid 99,000 $ 60,000 $ 18,000 120,000 90,000 25,500 132,000 110,000 35,500 133,000 76,000 32,200