Minot Corporation is preparing its cash budget for August. The following information is available concerning its accounts receivable: Estimated credit sales for August Actual credit sales for July Estimated collections in August for credit sales in August Estimated collections in August for credit sales in July $220,000 $167,000 25% 70% 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 $ 18,000 $ 8,000 $ 7,800 Required: What is the estimated amount of cash receipts from accounts receivable collections in August? Estimated cash receipts