From past experience, the company has learned that 30% of a months sales are collected in the month of sale, another 65% 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 $250,000, and March sales totaled $280,000.

Silver Company
Cash Collection
	April	May	June	Total
Februray
March
April
June
Total Cash collections

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

2.

Assume that the company will prepare a budgeted balance sheet as of June 30. Compute the accounts receivable as of that date.

Silver company
Acc reciveble at june 30
MAY	___________
JUNE	___________
TOTAL:	___________