Question
6) I am really struggling with this question. Can someone please assist? Alpha Company is preparing its cash budget for the month of May.The company
6) I am really struggling with this question. Can someone please assist?
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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