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$),410,000,610,000,210,000,1,230,000$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:

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$?$

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