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

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Accounting

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Sales on account for the first two months of the current year are budgeted as follows. January February $ 864,000 427,000 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. 60% 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 im 100% Compute the estimated cash collections on accounts receivable for the month of February Estimated cash collections

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