sales on account for the first two months of the current year are budgeted as follows. january $ 434,000 february 352,000 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. collections within the month of sale: within discount period 60 % after discount period 15 collections within the month following sale: within discount period 15 after discount period 7 returns, allowances, and uncollectibles 3 total 100 %