Papst Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable (based on sales made to customers on open account) Actual credit sales for March Actual credit sales for April Estimated credit sales for May Estimated collections in the month of sale Estimated collections in the first month after the month of sale Estimated collections in the second month after the month of sale Estimated provision for bad debts (made in the month of sale) $140,000 $174,000 $234,000 25% 60% 10% 5% The firm writes off all uncollectible accounts at the end of the second month after the month of sale Required Determine for Papst Compan y for the month of May: 1. The estimated cash receipts from accounts receivable collections. Estimated cash receipts S 176,900 2. The gross amount of accounts receivable at the end of the month (after appropriate write-off of uncollectible accounts) Gross accounts receivable