Martin Clothing Company is a retall company that sells hiking and other outdoor gear specially made for the desert heat. it sells to indlviduals 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 sales ( 65 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 35 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 60 percent paid in the month of purchase and 40 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. Complete this question by entering your answers in the tabs below. Determine budgeted cash collections for July and August. Note: Round your intermediate calculations and final answers to nearest whole dollar. account with 60 percent paid in the month of purchase and 40 percent paid the Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgoted cash payments for July and August. Complete this question by entering your answers in the tabs below. Determine budgeted cash collections for July and August. Note: Round your intermedlate calculations and final answers to nearest whole doliar. account with 60 percent paid in the month of purchase and 40 percent paid the fo Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. Complete this question by entering your answers in the tabs below. Determine budgeted cash paytyents for July and August