Silver Company makes a product that is very popular as a Mother's Day gh. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below geted sales (all on account) From past experience, the company has leamed 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 flad detns are negligible and can be ignored. February sales totaled $330,000, and March sales totaled $360.000 Required 1. Prepare a schedule of expected cash collections from sales, by month and in total for the second quarter 2. What is the accounts receivable balance on June 30 Complete this question by entering your answers in the tabs below. Required Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter February sa March Schiene of Expected Cash Collections Auri May Jum Total " of D April sales May sa Toal ash dions 0 Required 2>