14. Tofte Co. has forecast sales to be $400,000 in May, $475,000 in June, $575,000 in July and S700,000 in August. Forty percent of sales are cash, the remainder is on credit. Credit sales are collected 60% in the month of sale, the remaining the following month. What are budgeted cash collections for July? A. $230,000 B. $535,000 C. $321,000 D. $551,000