pter 8 Assignment Saved Help Save & Exit s Check my 4 Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert hea selle individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following into tion is available for several months of the current year. $ Month May June July August Cash Expenses Sales Purchases Paid 99,000 $ 70,eee $ 21, eee 123,000 92,000 29,000 130,000 118, eee 37,750 135,000 77,000 30,100 dook int ences The majority of Martin's sales (60 percent) are cash, but a few of the excursion companies purchase on credit. Of 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 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 ssignment Saved Help Save & Exit Check 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 14 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 oints Complete this question by entering your answers in the tabs below. Book Hint Required 1 Required 2 Print Determine budgeted cash payments for July and August References July August Budgeted Cash Payments Gew MC Hill cation