Papst Company is preparing its cash budget for the month of May. The following information is avaliable concerning its accounts ceceivable (based on sales made to customers on open account): The firm writes off all uncolfectible accounts at the end of the second month after the month of sale. Required: Determine for Papst Company for the month of May: 1. The estimated cash receipts from accounts recelvable collections, 2. The gross amount of accounts recelvable at the end of the month (after appropriate write-off of uncoliectible accounts). 3. The net amount of accounts recelvable at the end of the month. 4. Recalculate requirements 1 and 2 under the assumption that estimated collections in the month of sale equal 60% and in the first month following the month of sale equal 25%