Estimate Cash Collections
Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable:
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Estimated credit sales for December
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$300,000
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Actual credit sales for November
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$225,000
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Estimated collections in December for credit sales in December
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25%
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Estimated collections in December for credit sales in November
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70%
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Estimated collections in December for credit sales prior to November
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$ 24,000
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Estimated write-offs in December for uncollectible credit sales
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$ 12,000
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Estimated provision for bad debts in December for credit sales in December
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$ 10,500
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Required
What is the estimated amount of cash receipts from accounts receivable collections in December?