Exercise 13-39 (Static) Estimate Cash Collections (LO 13-4)Hackett Produce Supply is preparing its cash budget for April. The following information is available:Estimated credit sales for AprilActual credit sales for MarchEstimated collections in April for credit sales prior to MarchEstimated write-offs in April for uncollectible credit salesEstimated provision for bad debts in April for credit sales in AprilEstimated collections in April for credit sales in AprilEstimated collections in April for credit sales in MarchRequired:What is the estimated amount of cash receipts from accounts receivable collections in April?Estimated cash receipts$ 198,000$ 148,500$ 15,840$ 7,920$ 6,93030%65%

The cash budget is prepared to estimate the cash receipts or cash payments during the period. The…

Exercise 13-39 (Static) Estimate Cash Collections (LO 13-4) Hackett Produce Supply is preparing its cash budget for April. The following information is available: Estimated credit sales for April Actual credit sales for March $ 198,000 $ 148,500 Estimated collections in April for credit sales prior to March $ 15,840 Estimated write-offs in April for uncollectible credit sales $ 7,920 $ 6,930 Estimated provision for bad debts in April for credit sales in April Estimated collections in April for credit sales in April Estimated collections in April for credit sales in March Required: What is the estimated amount of cash receipts from accounts receivable collections in April? Estimated cash receipts 30% 65%

Exercise 13-39 (Static) Estimate Cash Collections (LO 13-4) Hackett Produce Supply is preparing its cash budget for April. The following information is available: Estimated credit sales for April Actual credit sales for March $ 198,000 $ 148,500 Estimated collections in April for credit sales prior to March $ 15,840 Estimated write-offs in April for uncollectible credit sales $ 7,920 $ 6,930 Estimated provision for bad debts in April for credit sales in April Estimated collections in April for credit sales in April Estimated collections in April for credit sales in March Required: What is the estimated amount of cash receipts from accounts receivable collections in April? Estimated cash receipts 30% 65%

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter4: Internal Control And Cash

Section: Chapter Questions

Problem 66.1C

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