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Sales on account for the first two months of the current year are budgeted as follows. $356,000 505,000 January February All sales are made on

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Sales on account for the first two months of the current year are budgeted as follows. $356,000 505,000 January February 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 60% 15 15 7 100% Total Compute the estimated cash collections on accounts receivable for the month of February. Estimated cash collections

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