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 $380,000, and March sales totaled $410,000. Required: 1. Prepare a schedule of expected cash collections from soles, by month and in total, for the second quarter. 2. What is the accounts recelvable balance on June 30th