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?