10 May WHAT ARE THE ESTIMATED CASH RECEIPTS FROM ACCOUNTS RECEIVABLE COLLECTIONS IN MAY?
Alpha Company is preparing its cash budget for the month of May. The company estimated credit sales for May at $200 000. Actual credit sales for April were $150 000. Estimated collections in May for credit sales in May are 20%. Estimated collections in May for credit sales in April are 70%. Estimated Collections in May for credit sales prior to April are $12 000. Estimated write-offs in May for uncollectible credit sales are $8 000. Estimated provision for bad debts in May for credit sales in May are $7 000. What are the estimated cash receipts from accounts receivable collections in May?
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