Check my work 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) February March April May $420,000 $450,000 $490,000 $690,000 June $220,000 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. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter Complete this question by entering your answers in the tabs below. Required 1 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 Juno Total $ 0 0 0 February salos March sales April sales May sales June sales Total cash collections 0 0 0 $ $ 0$ os