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Budgeted Cash Receipts The Fresh Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable:

Budgeted Cash Receipts

The Fresh Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable:

Estimated credit sales for May..............................................................$200,000

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.....................$12,000

Estimated write-offs in May for uncollectable credit sales......................$8,000

Estimated provision for bad debts in May for credit sales in May...........$7,000

Compute the estimated cash receipts from accounts receivable collections in May.

A detailed walk-through on how to calculate the required answer would be super helpful! Not sure where to start, and we can't use computer programs like Excel so a traditional means of solving would be much appreciated.

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