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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

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:
From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 65% are
collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are
negligible and can be ignored. February sales totaled $350,000, and March sales totaled $380,000.
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