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Please help me answer this question so I can study. Thanks. Sales on account for the first two months of the current year are budgeted

Please help me answer this question so I can study. Thanks.

Sales on account for the first two months of the current year are budgeted as follows:

Jan.$902,000

Feb.901,000

All sales are made on terms of 2/10, n/30 (2% 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 period60%

After discount period15

Collections within the month following sale:

Within discount period15

After discount period7

Returns, allowances, and uncollectibles3

Total100%

Compute the estimated cash collections on accounts receivable for the month ofFebruary.

Estimated cash collections = $______________________?

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