$ Month May June July August Expenses Sales Purchase Pald 92.000 5 61,000 $ 22,000 122,000 94.000 25,500 116.000 127.000 37,250 133,000 77.000 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit, or 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 $ Month May June July August Cash Expenses Purchases Paid 92.000 6 61,000 $ 22,000 122,000 94,000 25,500 136,000 117.000 37.250 133,000 37,000 29,400 nt * The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit or 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 rices 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