Minot Corporation is preparing its cash budget for August. The following information is avallable concerning its accounts recevable: Estinated credit sales for August Actual credit sales for July Eatinated collections in August for credit sales in Auguat Eatinated collections in August for credit sales in July Eatimated collections in August for credit sales prior to July Estimated vrite-offs in August for uncollectible credit sales Eatinated provision for bad debts in August for eredit sales in August $180,000 $135,000 20% 754 $ 14,400 $7,200 $ 6,300 Required: What is the estimated amount of cash receipts from accounts receivable collections in August? Estmated cash receipts
Minot Corporation is preparing its cash budget for August. The following information is avallable concerning its accounts recevable: Estinated credit sales for August Actual credit sales for July Eatinated collections in August for credit sales in Auguat Eatinated collections in August for credit sales in July Eatimated collections in August for credit sales prior to July Estimated vrite-offs in August for uncollectible credit sales Eatinated provision for bad debts in August for eredit sales in August $180,000 $135,000 20% 754 $ 14,400 $7,200 $ 6,300 Required: What is the estimated amount of cash receipts from accounts receivable collections in August? Estmated cash receipts
Chapter4: Financial Planning And Forecasting
Section: Chapter Questions
Problem 4P
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