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Managerial accounting please Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each

Managerial accounting please
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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 shown in the company's sales budget for the second quarter given below: Budgeted sales April May June Total (all on account) $360,000 $560,000 $220,000 $1,140,000 of From past experience, the company has learned that 30% of a month's sales are collected in the month sale, another 60% are collected in the month following sale, and the remaining 10% are cpllected in the second month following sale. Bad debts are negligible and can be ignored. Februarytsales totaled $290,000, and March sales totaled $320,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections April June Total February sales March sales April sales May sales June sales Total cash collections 0 0

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