Company makes a product thot is very popular as companys soles budge peak sales occur in May of esch yer as show nercond quarter given peted sales (all on account From past experience, the company has learned that 20% of a month's sales are collected in the month of sal Collected in the month following sale, and the remaining 10% are collected the second month followrg sale Bad debts egligible and can be ignored. February sales totaled $230,000, and March sales totaled $260,000 Required: 1 Prepare a schedule of expected cash collections from sales, by month and in total, for the second 2 What is receivable belance on June 30th? Complete this question by entering your answers in the tabs below Required 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 Apra May June Totai February sales March sales 1 of 6ENext