Realand Ltd.'s budgeted sales for the first three months of 20x12 are as follows:

January - $534,000

February - $866,500

March - $205,000

Realand's actual sales for December 20x11 were $780,000.

Of the total sales, 29% are cash sales and the remainder is on account. The company's cash collection patterns for sales made on account are as follows:

Collected in the month of sale - 24%;

Collected in the month following the sale - 52%;

The remainder is collected in the second month following the sale.

What is Realand's budgeted accounts receivable balance at the end of February 20x12?