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 glven below:

From past experlence, the company has learned that $20\%$ of a month's sales are collected in the month of sale, another $60\%$ are collected in the month following sale, and the remaining $20\%$ are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $$390,000,$ and March sales totaled $$420,000.$

Required:

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

$2$ What is the accounts recelvable balance on June $30$th$?$

Complete 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.

$\backslash$table$[[$Schedule of Expected Cash Collections$],[,$April,May,,June,,,Total$],[$February sales,$+,,,,,s,0],[$March sales,$5,,,,,,2],[$April salies,,,,,,E$,0],[$May sales,,$4,,,,2,0],[$June sales,,,,$1,$m$,,0],[$Total cash oollections,$3,0,$$$,0,$$$,0,,0]]$

What is the accounts recievable balance on june $30$th$?$