28.The Mango Company is preparing its cash budget for the month of May.

The following

information is available concerning its accounts payable:

Estimated credit sales for May

P200,000

Actual credit sales for April

150,000

Estimated collections in May for credit sales in May

20%

Estimated collections in May for credit sales in April

70%

Estimated collections in May for credit sales prior to April

P12,000

Estimated write-offs in May for uncollectible credit sales

8.000

Estimated provision for bad debts in May for credit sales in May

7,000

What are the estimated cash receipts from accounts receivable collections in May?