1. From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and August of 2016

Actual Estimated April May June July August Credit Sales 168,000 176,000 186,000 164,000 165,000Cash sales 46,000 Credit sales 92,400 Receipts from accounts receivable 71,500 Cash payments: Wages 54,000 Office furniture 12,600 Utilities expenses 3,800 Administrative expenses 14,100 Depreciation on office furniture 315 Receipts of loan 15,000 Credit purchases 65,600 Payment to accounts payable 52,900