Papst Company is preparing its cash budget for the month of May. The following information is avallable concerning its accounts recelvable (based on sajes made to customers on open account): The firm writes off all uncollectible accounts at the end of the second month after the month of sale. Required: Determinefor Papst Company for the month of May. 1 The estimated cash receipts from accounts receivable collections 2. The gross amount of accounts receivable at the end of the month (after appropriate write-off of uncollectible accounts) 3. The net amount of accounts recelvable at the end of the month. 4. Recalculare 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%