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Hackett Produce Supply is preparing its cash budget for April. The following information is available: Estimated credit sales for April $ 298,000 Actual credit sales
Hackett Produce Supply is preparing its cash budget for April. The following information is available:
Estimated credit sales for April | $ 298,000 |
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Actual credit sales for March | $ 163,500 |
Estimated collections in April for credit sales prior to March | $ 15,000 |
Estimated write-offs in April for uncollectible credit sales | $ 12,920 |
Estimated provision for bad debts in April for credit sales in April | $ 11,930 |
Estimated collections in April for credit sales in April | 25% |
Estimated collections in April for credit sales in March | 70% |
Required:
What is the estimated amount of cash receipts from accounts receivable collections in April?
Estimated cash receipts: ?
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