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$)$ $ $410,000$ $ $610,000$ $ $210,000$ $ $1,230,000$

From past experience, the company has learned that $25\%$ of a month$$s sales are collected in the month of sale, another $60\%$ are collected in the month following sale, and the remaining $15\%$ are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $$340,000,$ and March sales totaled $$370,000.$

Required:

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

What is the accounts receivable balance on June $30$th$?$