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Minot Corporation is preparing its cash budget for August. The following information is available concerning...

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Accounting

Minot Corporation is preparing its cash budget for August. The following information is available concerning its accounts receivable:

Estimated credit sales for August $ 260,000
Actual credit sales for July $ 199,000
Estimated collections in August for credit sales in August 25 %
Estimated collections in August for credit sales in July 70 %
Estimated collections in August for credit sales prior to July $ 22,000
Estimated write-offs in August for uncollectible credit sales $ 8,000
Estimated provision for bad debts in August for credit sales in August $ 9,400

Required:

What is the estimated amount of cash receipts from accounts receivable collections in August?

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