Martin Clothing Company is a retall company that sells hiking and other outdoor gear specially made for the desert heatsell individuals as well as local companies that coordinate adventure getaways in the desert for touristsThe following information available for several months of the current year Cash Month May June July August Expenses Sales Purchases Paid 98,000 70,000 116,000 89,000 28,000 133,000 119,000 37,088 129,000 77,000 30,800 The majority of Martin's sales (75 percent) are cashbut a few of the excursion companies purchase on creditOf the credit sale percent are collected in the month of sale and 65 percent are collected in the following month All of Martin's purchases are on account with 50 percent paid in the month of purchase and 50 percent paid the following month Required: Determine budgeted cash collections for July and August Determine budgeted cash payments for July and August