Required: Question: Prepare a schedule of expected cash collections from sales for each month (April, May, and June). Milo is a wholesale distributor of beach tables. Thus, peak sales occur in May of each year as shown in the company's sales budget for the second quarter, given below: April May June Budgeted Sales (All on account) $ 600,500 $ 800,500 $ 550,500 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. February sales totaled $400,000, and March sales totaled $500,000