The Overland Company is preparing its cash budget for the month of June. The following information is available concerning its accounts receivable: Estimated credit sales for June$300,000 Actual credit sales for May 225,000 Estimated collections in June for credit sales in June 25%Estimated collections in June for credit sales in May 65%Estimated collections in June for credit sales prior to May$18,000 Estimated write-offs in June for uncollectible credit sales 12,000 Estimated provision for bad debts in June for credit sales in June 10,000 What are the estimated cash receipts from accounts receivable collections in June?
A. $239,250.
B. $221,250.
C. $229,250.
D. $227,250.
Answer: A
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