Sitver Company mokes a prociuct that is very popular as a Mother's Day gift. Thus, peak oales occur in May of each yerar, as shown in the company's sales budget for the second quarter given below From past experience, the company has teamed that 25% of a monthis sales are collected in the month of sale, another 50 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 $340,000, and March sales totaled $370.000. 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 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. 1. Prepare a schedule of expected cash caliections from tales, by month and in total, tor the tecond quarter Required: 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. From past experience, the company has lesrned thet 25 hof of month' sales ore colrected in the month of sale, another oof ore gudgeted salae (all on account) collected in the month following sale, and the remaining 15 s are colfected in the secomd month foitowing kate Bad debts ate. 1. Prepure a schedule of expected cash colsections from sales, by manth and in total. for the secand quartes Required 2. What is the accounts recelvable balance on June 30 th? Complete this question by entering your answers in the tabs below. What is the accounts receivable balance on June 30th