esc Question 1(of 8) 312 points silver company makes a product very popular as a Mother's Day gin Thus, peak sales ocourin May of each year, as shown in the company's sales budget for the second quarter given below: Budgeted sales June Total (all on account) $370,000 $570,000 $180,000 $1,120,000 of From past experience, the company has learned that 25% of a month's sales are collected in the month sale, another 65% are collected in the month following sale, and the are collected in the second month following sale. Bad debts are negligible remaining 10% $300,000, and March and can be ignored. February sales totaled sales totaled $330,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second Schedule of Expected Cash Collections April June Total February sales March sales May sales Total cash collections OS 0 0