Silvei Company makes a product that is very popular as a Motheris Day ont. Thus, peak sales occur in Moy of each year, as shiomn in the company's sales budiget for the second quarter goven below: Fiom past experience, the company has learned that 205 of a month's sales are collected in the morth of sale, another 65% are callected in the month following sale, and the remaining 15%, ire collected in the second morth following sale Bad debts are negligible and can be innored. February sales totaied $350000 and March sales totaled $380000 Required: 1. Prepare a schedule of expected cash collections from sales, by month and in folot, for the second quarter. 2. What is the occounts recelvable balance on June 30 th? Complete this question by notering your answers in the tats below