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 ir he company's sales budget for the second quarter given below: Erom past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are legligible and can be ignored. February sales totaled $240,000, and March sales totaled $270,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter