$2.$ Hank Cookware has the following sales budget for the $1$st $2$ months of the year:

January February

Cash Sales $$120,000$ $$170,000$

Sales on account $$340,000$ $$430,000$

It is estimated that Hank will collect $20\%$ of its sales on account in the month of sale and the remaining $80\%$ the following month. What is the amount of budgeted cash collections for February?