Martin Clothing Company is a retall compary that sells hiking and other outdoor gear speclally made for the desert heat. It sells to Indivlduals as well as local companles that coordinate adventure getaways in the desert for tourlsts. The following Information is avallable for several months of the current year. The majority of Martin's sales ( 65 percent) are cash, but a few of the excursion companles purchase on credit. Of the credit. sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin's purchases are on account with 40 percent paid in the month of purchase and 60 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August