Silver Company makes a product that is very poputar as a Mother's Doy gif. Thus, peak sales occur in May of each year, os shown the company's 's ales budpet for the second quarter given below. From past experience, the company has feamed 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 fonored. Februory 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. 2. What is the accounts recelvable balance on June 30 th? 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. Complete this question by entering your answers in the tabs below. What is the accounts receivable balance on June 30 th