Silver Company makes a product with peak sales In May of each year. Its sales budget for the second quarter is given below: April May June Total Budgeted sales (all on account) $ 430, 080 $ 630, 080 $ 200, 080 $ 1, 260, 090 The company estimates 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 $360,000, and March sales totaled $390,000. 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 30th? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the accounts receivable balance on June 30th? Total accounts receivable at June 30Sliver Company makes a product with peak sales In May of each year. Its zales budget for the second quarner Is given below: april May June Total Budgeted sales {all on account) $ 430,822 % B38,228 3 209,228 $ 1,260,080 The company estimates 25% of a month's sales are collectad In the month of sale, another 60% are collected In the month following sale, and the remalining 15% are collected In the second menth following sale. Bad debts are negligible and can be Ignored. February sales totaled $380,000, and March sales totaled $390,000. Required: 1. Prepare a schedule of expected cash cellections from sales, by month and In total, for the second quarter. 2. What Is the accounts recelvable balance on June 30th? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter