Check my work Silver Company makes a product that is very popular as a Mother's Doy gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below $390,000 $590,000 $230,000 $1,210,000 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 negligible and can be ignored. February sales totaled $320,000, and March sales totaled $350,000 Required: month following sale adde ts are eBook Ht Print 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? 1. Complete this question by entering your answers in the tabs below s from sales, by month and in total, for the second quarter Prev 1 of 2 20 F3 SC From past experience, the company has learned that 25% of a month's sales are collected in the month of sale , another 60% are ing sale, and the remaining 15% are collected in the second month following sale. Bad debts are sales totaled $320,000, and March sales totaled $350,000 Required: 1. Prepare a schedule of expecte 2. What is the accounts receivable balance on June 30th? d 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 Required 2 Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter of Expected Cash Prev 1 of 2 Next> a: ; 20 888 a Check my work Budgeted sales (all on account) $390,000 $590,000 $230,000 1,210,000 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. 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 2. What is the accounts receivable balance on June 30th? Hint Complete this question by entering your answers in the tabs below Print What is the accounts receivable balance on June 30th? S Prev 1 of 2 Next> sc