6 Safari File Edit View History Bookmarks window Help Lil >3 45' 20503} Sun5:U1 PM Q 6 E I O C i\"; ' = l , I) ,. .5 i ezto.mheducalinn.com C, . 0 .. .' ' 3- l _= _= a m autumn. . Chapter B Hw - SP23 0 Saved Help Save 0 Exit Submit ,0 2 delete 1' Check my work I_ 1 Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: 10 April Hay aun. Total palm Budgeted sales (811 on account} 5 400,000 5 500,000 5 100,000 3 1,190,000 supp\" From past experience, the company has learned that 30% ofa month's sales are collected in the month of sale. another 60% are collected in the month following sale, and the remaining 1096 are collected in the second month following salec Bad debts are negligible and can be ignored. February sales totaled $330,000, and March sales totaled $360,000. EBuak Required: Hint 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? Prim References Complete till: question by enterlng your answer: In the tab! below. Required 1. Required 2 Prepare a schedule of expected cash collections from sales, by month and In hotel, for the second quarter. Febmary sales Mc Graw Hill