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: $ $490,000.$May: $ $690,000.$June: $ $220,000.$Total: $ $1,400,000.$ From past experlence, 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 $ $420,000,$and March sales totaled $ $450,000.$ Required: Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. What is the accounts recelvable balance on June $30$ th $?$ Complete this question by entering your answers in the tabs below. Required $1$ Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.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:

From past experlence, 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 $$420,000,$ and March sales totaled $$450,000.$

Required:

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

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

Complete this question by entering your answers in the tabs below.

Required $1$

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