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:

$\backslash$table$[[$Budgeted sales $($all on account$),$April,May,June,Total$],[400,000,$$$600,000,$$$190,000,$$$1,190,000,]]$

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. Bad debts are negligible and can be ignored. February sales totaled $$330,000,$ and March sales totaled $$360,000.$

Required:

Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

What is the accounts receivable balance on June $30$th$?$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare a schedule of capected cash collections from sales, by month and in total, for the second quarter.

$\backslash$table$[[$February sales,Schedule of Expected Cash Colloctions$],[$April$,$May,June,Total$],[$$$,120,000,,,$$$,120,000],[$March sales,,$280,000,,180,000,,,,460,000],[$April sales,,$40,000,,360,000,,57,000,,457,000],[$May sales,,$-,,60,000,,114,000,,174,000],[$June sales,,,$-,,,19,000,,19,000],[$Total cash collections,$$,440,000,$$$,600,000,$$$,190,000,$$$,1,230,000$