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 $ $ $

June

July

August

The majority of Martins sales percent are cash, but a few of the excursion companies purchase on credit. Of the credit sales, percent are collected in the month of sale and percent are collected in the following month. All of Martins purchases are on account with percent paid in the month of purchase and percent paid the following month.

Required:

Determine budgeted cash collections for July and August.

Determine budgeted cash payments for July and August.