Hoover Corporation began operations on June 1, 2020. Hoover's budgeted June 2020, July 2020, and August 2020 sales are $1,100,000, $1,400,000, and $2,000,000 respectively. The company estimates that 75% of its sales will be made on credit. The company also estimates that 55% of Hoover's customers will pay their outstanding balances in the month of the sale, 30% in the first month subsequent to the sale, and 15% in the second month subsequent to the sale. How much cash should Hoover Corporation expect to receive from its customers in July 2020? 0 $825,000 $1,175,000 $975,000 $927,500 $1,050,000