3. Johnny's Industrial Chemical Supply Company forecasts the following TOTAL sales figures for the next four months. April, $270,000 - May, $290,000 - June, $360,000- July, $380,000. Cash sales average 20 percent of total sales and credit sales represent 80 percent of total sales. Credit sales are collected 70 percent in the month following sale and 30 percent two months following sale. The total estimated cash received in July would be