ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A C O + A A G M Question 5 - Chapter 8 Homework - Connect Chapter 8 Homework i Saved Help Save & Exit Submit * You received no credit for this question in the previous attempt. View previous attempt Check my work 5 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: 3 points Cash Expenses Month Sales Purchases Paid May $ 93, 000 $ 64, 000 $ 23, 000 June 123, 00 85, 000 25, 000 July 137, 000 120, 000 33, 250 Book August 129, 000 74, 000 32, 900 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 25 percent are collected in the month of sale and 75 percent are collected in the following month. All of Martin's purchases are on Print account with 45 percent paid in the month of purchase and 55 percent paid the following month. Required: References 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. Note: Round your intermediate calculations and final answers to nearest whole dollar. July August Budgeted Cash Collections Required 1 Required 2 > Mc Next > Grav