Exercise 13-33 Estimate Cash Collections (LO 13-5)

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

Estimated credit sales for August	$	220,000
Actual credit sales for July	$	167,000
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	$	18,000
Estimated write-offs in August for uncollectible credit sales	$	8,000
Estimated provision for bad debts in August for credit sales in August	$	7,800

Required:

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