Exercise 23.8 Budgeting Cash Receipts (L023-4, LO23-5) Sales on account for the first two months of the current year are budgeted as follows. $711,000 580,000 February 8 04:48:43 All sales are made on terms of 2/10,n/30 (2 percent discount if paid in 10 days, full amount by 30 days): collections on accounts receivable are typically made as follows. Collections within the month of sale: Within discount period After discount period Collections within the month following sale: Within discount period After discount period Returns, allowances, and uncollectibles Total Compute the estimated cash collections on accounts receivable for the month of February Estimated cash collections