ABC Company has budgeted sales for the next six months as follows: Budgeted Sales in Units March 19,000 units April 23,000 units May 34,000 units June 17,000 units July 48,000 units August 69,000 units ABC Company sells its inventory to customers for $16 per unit. 30% of the company's sales are cash sales and the other 70% of sales are made on account. The sales on account are collected in the pattern: 35% collected in the month of sale 26% collected in the month following sale 19% collected in the second month following sale 12% collected in the third month following sale 8% collected four months after the month of sale Calculate ABC Company's budgeted cash collections for July.