Exercise 13-35 (Algo) Estimate Cash Collections (LO 13-5) Minot Corporation is preparing its cash budget for...

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Exercise 13-35 (Algo) Estimate Cash Collections (LO 13-5) Minot Corporation is preparing its cash budget for August. The following information is available concerning its a Estimated credit sales for August Actual credit sales for July 5 Estimated collections in August for credit sales in August Estimated collections in August for credit sales in July Estimated collections in August for credit sales prior to July Estimated write-offs in August for uncollectible credit sales Estimated provision for bad debts in August for credit sales in August $150,000 $115,000 25% 70% $ 13,000 $ 5,000 $ 5,600 Required: What is the estimated amount of cash receipts from accounts receivable collections in August? Estimated cash receipts Exercise 13-35 (Algo) Estimate Cash Collections (LO 13-5) Minot Corporation is preparing its cash budget for August. The following information is available concerning its a Estimated credit sales for August Actual credit sales for July 5 Estimated collections in August for credit sales in August Estimated collections in August for credit sales in July Estimated collections in August for credit sales prior to July Estimated write-offs in August for uncollectible credit sales Estimated provision for bad debts in August for credit sales in August $150,000 $115,000 25% 70% $ 13,000 $ 5,000 $ 5,600 Required: What is the estimated amount of cash receipts from accounts receivable collections in August? Estimated cash receipts