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Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable: Estimated credit sales for December $ 300,000
Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable: Estimated credit sales for December $ 300,000 Actual credit sales for November $ 225,000 Estimated collections in December for credit sales in December 25 % Estimated collections in December for credit sales in November 70 % Estimated collections in December for credit sales prior to November $ 24,000 Estimated write-offs in December for uncollectible credit sales $ 12,000 Estimated provision for bad debts in December for credit sales in December $ 10,500 Required: What is the estimated amount of cash receipts from accounts receivable collections in December
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