Schedule of Accounts Receivable Collections. Varsity Company is preparing its cash budget for the month of May. The following information on accounts receivable collections is available from Varsity's past collection experience: Sales for the current month Sales for the prior month. Sales wo months prior to cured month Sales three months prior to current month Cash discounts takon, Doubtful accounts... 12% 75% 6% 4% 2% 1% Credit sales are as follows: May, $100,000 (estimated): April, $90,800: March, $80,000, February, $95,000. Determine the estimated collections from accounts receivable for May. (AICPA adapted)