april -390,000

may- 590,000

june- 230,000

total- 1,210,000

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: Budgeted sales (all on account) From past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $320,000, and March sales totaled $350,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Prepare a schedule of expec for the second quarter. spected cash collections from s pected Cash Collections \begin{tabular}{c|c|c} May & June & Total \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Complete this question by What is the accounts receivat