From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 70% are collectied in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negliglble and can be ignored. February sales totaled $230,000, and March sales toteled $260,000. Required: 1. Prepare a schedule of expectod cosh collections from sales, by month and in total, for the second quartec, 2. What is the accounts recelvable belance on June 30 th? Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Silver Company makes a product that is very popular as a Mother's Oay gift. Thus, peak sales occur in May of each year, as shown in the company/s solvs budget for the second quarter giver below: From past experlence, the company has learned that 20% of a month's sales are collected in the month of sale, another 70% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $230,000, and March sales totaled $260,00 Required: 1. Prepare a schedule of expected cash collections from sales, by month and in sotal for the secand quarter. 2. What is the accounts recelvable balance on June 30th ? Complete this question by entering your answers in the tabs below. What is the accounts receivable balance on June 30th