Month May June July August Cash Expenses Sales Purchases Paid $ 94,000 $ 63,000 $ 24,000 116,000 88,000 24,500 139,000 114,000 34,750 131,000 77,000 30,800 The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 30 percent are collected in the month of sale and 70 percent are collected in the following month. All of Martin's purchases are on account with 45 percent paid in the month of purchase and 55 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 ca whole dollar.) July August Budgeted Cash Collections