Silver Company makes a product that is very popular as a Mothers Day gift. Thus, peak sales occur in May of each year, as shown in the companys sales budget for the second quarter given below: April May June Total Budgeted sales (all on account) $ 300,000 $ 500,000 $ 200,000 $ 1,000,000 From past experience, the company has learned that 20% of a months sales are collected in the month of sale, another 70% are collected in the