Question 1 (2 points) Suppose you are helping New Country company to prepare for a cash budget. The following information is provided to you, and you are asked to predict the company's cash need in July. Its sales is $2300 in May, and $3500 in June. Sales is projected to be $3800 in July. For each month, 30% of sales are collected(in cash) in the same month, 70% will be collected in the following month. What is the total cash receipt that New Country company can collect in July? $3590 $3140 $1140 $2450