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

Estimated credit sales for August$200,000Actual credit sales for July$151,000Estimated collections in August for credit sales in August25%Estimated collections in August for credit sales in July70%Estimated collections in August for credit sales prior to July$16,000Estimated write-offs in August for uncollectible credit sales$8,000Estimated provision for bad debts in August for credit sales in August$7,000

Required:

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