Papst Company is preparing ts cash budget for the month of May. The following Information is available concerning Its accounts recelvable (based on sales made to customers on open account: $130,000 $160,000 $210,000 Actual credit sales for March Actual credit sales for April E timated credit sales for May Estimated collections in the nonth of sale Estimated collections in the first month fter 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) 25 60B 108 5 The firm writes oft all uncollectible 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 estmated cash receipts from accounts recelvable collections. 2. The gross amount of accounts recelvable at the end ofthe month (after appropriate write-off of uncollectibie 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%. 1. Estimated cash receipts Gross accounts receivable 3. Net accounts receivable 4a Estimated cash receipts 4b. Gross accounts receivable