Check Exercise 6-1 schedule or expected Lasn collections (LU8-4) Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur Mayor each year, antho the company's sales budget for the second quarter given below April May June Total Budgeted sales fall on account $440,000 5640,000 $220,000 $1,300,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another cox collected in the month following sale, and the remaining 10% are collected in the incond month following saleBad debts are negligible and can be ignored. February sales totaled $370,000, and March salaca $400,000 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 June Total February sales March sales April sales May sales June sales Total cash collections Che work Exercise 6-1 schedule of Expected can collections L6-41 Silver Company makes a product that is very popular as a Mother's Day gin. Thus, peak tales occur in May of each year as shown in the company's soles budget for the second quarter given below April May June Total Budgeted sales (mul on account) $440,000 $640,000 5220,000 $1,300,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% collected in the month following sale, and the remaining 10% are collected in the second month following sala, Bad debts are negligible and can be ignored. February sales totaled $370,000, and March sales totaled $400,000, 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 Regered 2 What is the accounts receivable balance on June 30th? Total accounts receivable at Junio 30