Minot Corporation is preparing its cash budget for August. The following information is available concerning its accounts receivable:           Estimated credit sales for August $ 130,000   Actual credit sales for July $ 99,000   Estimated collections in August for credit sales in August   25 % Estimated collections in August for credit sales in July   70 % Estimated collections in August for credit sales prior to July $ 11,000   Estimated write-offs in August for uncollectible credit sales $ 5,000   Estimated provision for bad debts in August for credit sales in August $ 4,800     Required: What is the estimated amount of cash receipts from accounts receivable collections in August?

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.