Sales for the second quarter for Roberts and Sons are expected to be $160,000 in April, $260,000 in May and $220,000 in June. All sales are on credit. Collections are expected to be 25% in the month of sale and 75% in the month following the month of sale. Accounts receivable at the end of March were $135,000 1 Ti B1 15 E a. Calculate the cash receipts for each month in the second quarter and the total for the quarter Sales (5) April May June 160,000 260,000 220,000 b. Calculate the Accounts receivable balance at June 30th