Silver Company makes a product that is very popular as a Mother's Day glft. Thus, peak sales occur in May of each year, as shown In he company's sales budget for the second quarter glven below: From past experlence, the company has learned that 25% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are negliglble and can be ignored. February sales totaled $320,000, and March sales totaled $350,000. Required: Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts recelvable balance on June 30 th? Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter