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13-35 Minot Corporation is preparing its cash budget for August. The following information is available concerning its accounts receivable: Estimated credit sales for August $

13-35

Minot Corporation is preparing its cash budget for August. The following information is available concerning its accounts receivable:

Estimated credit sales for August $ 150,000
Actual credit sales for July $ 115,000
Estimated collections in August for credit sales in August 25 %
Estimated collections in August for credit sales in July 70 %
Estimated collections in August for credit sales prior to July $ 13,000
Estimated write-offs in August for uncollectible credit sales $ 5,000
Estimated provision for bad debts in August for credit sales in August $ 5,600

Required:

What is the estimated amount of cash receipts from accounts receivable collections in August?

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