Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat.

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Martin Clothing Company is a retail company that sells hikingand other outdoor gear specially made for the desert heat. It sellsto individuals as well as local companies that coordinate adventuregetaways in the desert for tourists. The following information isavailable for several months of the current year:
The majority of Martin’s sales (65 percent) are cash, but a fewof the excursion companies purchase on credit. Of the credit sales,45 percent are collected in the month of sale and 55 percent arecollected in the following month. All of Martin’s purchases are onaccount with 50 percent paid in the month of purchase and 50percent paid the following month.
Required:
1. Determine budgeted cash collections forJuly and August.
2. Determine budgeted cash payments forJuly and August.