Exam Review HU 2 Suvet Company makes a product that is very popular as a Mother's Day Gift Thus, peak ales occur in May of each year os shown in the company's budget for the second quarter given below Total 000 TO 10 From Dust experience the company has earned a 20% of a month's sales are collected in the month of sale another 70% are collected in the month following sole, and the remaining 10% are collected in the second month following sale flad debts an negligible and can be ignored. February sales totsed $230,000 and March is totaled $260.000 Required: 1. Prepare a schedule of expected cash collections from sale by month and in total, for the second quarter 2. What is the accounts receivable balance on June 2017 Complete this questie by entering your answers in the tabs below. Hequired What is the accounts receivabe balance on June 3oth