From past experience, the company has learned that $20\%$ of a month's sales are collected in the month of sale, another $75\%$ are

collected in the month following sale, and the remaining $5\%$ are collected in the second month following sale. Bad debts are negligible

and can be ignored. February sales totaled $$270,000,$ and March sales totaled $$300,000.$

Required:

Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

What is the accounts receivable balance on June $30$th$?$

Complete this question by entering your answers in the tabs below.

Required $1$

Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.