Estimate cash collections

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Reference no: EM131203320

Estimate Cash Collections (LO 13-5) Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable: Estimated credit sales for December $ 350,000 Actual credit sales for November $ 265,000 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 $ 29,000 Estimated write-offs in December for uncollectible credit sales $ 12,000 Estimated provision for bad debts in December for credit sales in December $ 12,500 Required: What is the estimated amount of cash receipts from accounts receivable collections in December?

Reference no: EM131203320

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