Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below:

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 $$260,000,$ and March sales totaled $$290,000.$

Required:

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

What is the accounts receivable 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.