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Silver Company makes a product that is very popular as a Mother's Day art. Thuspeak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below Budgeted sales (all on account) April May June Total $370,000 $570,000 $180,000 $1,120,000 From past experience, the company has learned that 25% of a month's cales are collected in the month of sale, another 65% collected in the month following sale, and the remaining 10% are collected in the second month following sale ad debts are negligible and can be ignored. February sales totaled $300,000, and March sales totaled $330.000 Required: 1 Prepare a schedule of expected cash collections from cales, by month and in total, for the second quarter 2. What is the accounts receivable balance on June 30th? Complete this question by entering your answers in the tabs below. Required Required a Prepare a schedule of expected cash collections from ales, by month and in total for the second quarter Schedule of Expected Cash Collections Apa May June Total February March April May als Se es Toshoot R2 > Silver Company makes a product that is very popular as a Mother's Day. Thus, peaks occur in May of each you, as shown in the company ale budget for the second quarter given below Budgeted sales (all on May April Dune Total $370, ceo $570,000 $138,000 1,120,000 account) From past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $300,000, and March sales totaled $330.000 Required Propare a schedule of expected cash collections from sales, by marth and in total, for the second quarter 2. What is the accounts receivable balance on June 30th? Complete th Required 2 entering your answers in the tabs below. Recured What is the accounts receivable balance on June 30th? TL Dounts

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