Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: Budgeted sales (all on account) April May June February March $410,000 $440,000 $480,000 $680,000 $260,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Complete this question by entering your answers in the tabs below. Required 11 Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections February sales March sales April sales May sales June sales Total cash collections April May + June Total Required 1 next < Previ 7 of 141 Next >