biver Lompany makes a product that is very popular as a Motner s vay gitt. Inus, peak sates occur in may or each year, as snown in the company's sales budget for the second quarter given below: From past experlence, 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 lgnored. 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. 2. What is the accounts recelvable balance on June 30 th? 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 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 socond quarter given below: Fiun past expenence, the company has leatned that 25% of a month's saies are collected in the month of sate. another 6086 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 lgnored. February sales totaled $320.000, and March sales totaled $350.000 Required: 1. Prepare a schedule of expected cash collections from sales, by month anid in total, for the second quadter. 2. What is the accounts recelvable balance on June 30 th? Complete this question by entering your answers in the tabs below. What is the accounts tecelvable balance oh lune 30th