Ch 8 HW, Part 4 4 Saved Help Save & Exit Submit 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. Cash Expenses 15 potes Month Hay June July August Sales Purchases Pald $ 92,000 $ 67,000 $20,000 124,000 135,000 128,000 86,000 26,000 116,000 76,000 36,250 31,500 P References The majority of Martin's sales (75 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 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 Check my work Ch 8 HW, Part 4 15 DO 4 Saved Help Save & Exit Submit eBook The majority of Martin's sales (75 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 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. Print References Required 1 Required 2 Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar.) Budgeted Cash Collections July August Required S Required 2 > Check my work Ch 8 HW, Part 4 Saved Help Save & Exit Submit Check my work 4 The majority of Martin's sales (75 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 50 percent paid in the month of purchase and 50 percent paid the following month. 15 points Book H 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. Prim References Required 1 Required 2 Determine budgeted cash payments for July and August. Budgeted Cash Payments July August < Required 1