A company is preparing its cash buget for the month of May. Below is A/R information: Actual credit sale for March $130,000 Actual credit sale for April $160,000 Estimated credit sales for May...

A company is  preparing its cash buget for the month of May. Below is A/R information:

Required: For the
month of May, calculate the following:

1. Estimated cash receipts from account recievable collections.

2. The gross amount of A/R  at the end of the month (after appropriate write off of uncollectiable amounts).

3. The net amount of A/R at the end of the month

4. Recalculate the requirement 1 & 2  under the assumption that estimated collections in the month of sale equal 60% and in the first month of sale equal 25%.

Thanks

Kiran