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 shcnvn in the company's sales budget for the second quarter guen below: Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. s 'ea. eee sue.eee From past experience, the company has learned that 20% of a month's sales are collected in the month of sale. another are collected in the month follo.ving sale. and the remaining are collected in the second month following sale. dad debts are negligible and can be ignored. February sales totaled SOOOOO. and March sales totaled S460000. Required: 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? Complete this question by entering your answers in the tabs below. Required 1 2 March sales April s a I es May Sale S Total G sh