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$)$ $ $330,000$ $ $530,000$ $ $210,000$ $ $1,070,000$ 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 $$260,000,$ and March sales totaled $$290,000.$ Required: $1.$ Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. $2.$ What is the accounts receivable balance on June $30$th$?$