Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in Moy of each yeat, as showi in the company's sales budget for the second quarter given below: Fom past experience, the comparny has learned that 20% of a month's sales are collected in the month of wale, another 60% are collected in the month following sale, and the remaining 20% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $310,000, and March sales totaled $340,000 Required: 1. Piepare a schedule of expected cash collections from sales. by month and in total, for they second quarter: 2. What is the accounts recelvable balance on June 30 th? Cempleto this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in fotal, for the second quarter