The Overland Company is preparing its cash budget for the month of June. The following information is available concerning its accounts receivable: Estimated credit sales for June Actual credit sales for May Estimated collections in June for credit sales in June Estimated collections in June for credit sales in May Estimated collections in June for credit sales prior to May Estimated write-offs in June for uncollectible credit sales Estimated provision for bad debts in June for credit sales in June $322,000 247,909 25% 65% $ 40, eee 34,000 32,000 What are the estimated cash receipts from accounts receivable collections in June? Multiple Choice $281.050 $289.300 O $266,960 $259,910 Companies that manufacture products that are similar and use the same resources should use the plantwide cost allocation method True or False True False