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please solve both requirements Martin Clothing Company is a retall company that sells hiking and other outdoor gear specially made for the desert heat It
please solve both requirements
Martin Clothing Company is a retall company that sells hiking and other outdoor gear specially made for the desert heat It sells to individuals 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: Cash Expenses Month Sales Purchases Paid Hay $ 96,000 $67,000 $ 22,000 June 119,000 95,000 29,000 July 133,000 114,000 36,250 August 134,000 70,000 32,900 a The majority of Martin's sales (70 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 55 percent pald in the month of purchase and 45 percent paid the following month Required: 1. Determine budgeted cash collections for July and August 2. Determine budgeted cash payments for July and August . CE 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 > Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to Individuals 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: Month May June Expenses Sales Purchases Paid $ 96,000$ 67,000 $ 22,000 119,000 95,000 29,000 133,000 114,000 36,250 134,000 70,000 32,900 July August The majority of Martin's soles (70 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 55 percent paid in the month of purchase and 45 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August 2. Determine budgeted cash payments for July and August ces Complete this question by entering your answers in the tabs below. Required Required Determine budgeted cash payments for July and August July August Budged Cash Payments Step by Step Solution
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