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:

April May June Total Budgeted sales (all on account) $500 , 000 $700 , 000 $240 , 000 $1 , 440 , 000Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. February sales March sales April sales May sales June sales Total cash collections Complete this question by entering your answers in the tabs below. Required1 Required: What is the accounts receivable balance on June 30th? ( Required 1