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Estimate Cash Collections
Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable:
Estimated credit sales for December
$300,000
Actual credit sales for November
$225,000
Estimated collections in December for credit sales in December
25%
Estimated collections in December for credit sales in November
70%
Estimated collections in December for credit sales prior to November
$ 24,000
Estimated write-offs in December for uncollectible credit sales
$ 12,000
Estimated provision for bad debts in December for credit sales in December
$ 10,500
Required
What is the estimated amount of cash receipts from accounts receivable collections in December?
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