5 Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below: April $300,000 May $500,000 June $200,000 Budgeted sales (all on account) The company estimates 20% of a month's sales are collected in the month of sale, another 70% 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 $230,000, and March sales totaled $260,000. Required: 1. Prepare a schedule of expected cash collections from sales, 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 1 Required 2 Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections April May February sales March sales April sales May sales June sales Total cash collections Required 1 June Total $1,000,000 Total Required 2 s

Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below: The company estimates 20% of a month's sales are collected in the month of sale, another 70% 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. Februar? sales totaled $230,000, and March sales totaled $260,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts recelvable balance on June 30th? Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Silver Company makes a pro . with peak sales in May of each year. its sales budget for the second quarter is given below: The company estimates 20% of a month's sales are collected in the month of sale, another 70% 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 $230,000, and March sales totaled $260,000. Required: 1. Prepare a schedule of expected cash collections from sales, 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. What is the accounts receivable balance on June 30 th? Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below: The company estimates 20% of a month's sales are collected in the month of sale, another 70% 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. Februar? sales totaled $230,000, and March sales totaled $260,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts recelvable balance on June 30th? Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Silver Company makes a pro . with peak sales in May of each year. its sales budget for the second quarter is given below: The company estimates 20% of a month's sales are collected in the month of sale, another 70% 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 $230,000, and March sales totaled $260,000. Required: 1. Prepare a schedule of expected cash collections from sales, 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. What is the accounts receivable balance on June 30 th