Silver Company makes a product that is very popular as a Mother's Day gitt. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: From past experience, the compary has leamed 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 collocted in the second month following sale. Bod debts are negligible and can be ignored. February sales totaled $420.000, and March sales totaled $450,000.- Required: 1. Prepare a schedule of expected cash collections from salos, by month and in total, for the second quarter. 2. What is the accounts teceivable balance on June 30 th? Complete this question by entering your answers in the tabs below. Piopare us schedule of expected cash collections from sales, by month and in total, for the fecand quarter