Martin Clothing Company is retall company that sells hiking and other outdoor gear specially made for the desert . sells to Individuals as well as local companies that coordinate adventure getaways in the desert for touristsThe following information is available for several months of the current year

$ Month May June July August Can Expenses Sales Purchase Paid 91,000 $ 68,000 $ 21,000 116,000 93,000 24,000 138.000 118.000 33,750 126.000 74.000 34.300 The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies 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 50 percent paid in the month of purchase and 50 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. Required 1 Required 2 Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar.) July August Budgeted Cash Collections Required 2 > Month May June $ Expenses Sales Purchases Paid 91,000 $ 68,000 $ 21,000 116,000 93,000 24,000 138.000 118.000 33.750 126,000 19.000 34,300 July August The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies 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 50 percent paid in the month of purchase and 50 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. Required 1 Required 2 Determine budgeted cash payments for July and August. July August Budgeted Cash Payments