Siver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below. From past experience, the compony has learned that 20% of a montris sales are collected in the morith of sale, another 70% are collected in the month following sale, and the remaning 10% are collected in the second month following sale Bad debts are negligible and can be ignored. February sales totaled $230.000, and Morch sales totaled $260,000 Required: 1. Prepare a scheduic of expected cash collections, fiom sales, by month, and in total, for the secand quarter: 2. What is the accounts teceivable balance on Jure 30 h? Complete this question ty entering your answers in the tabs below. Prepare a schadule of expected cash collections from sales, by month and in totat for the second quarter. Silver Comparny makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 70% are collected in the month following sale and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $230,000. ond March sales totaled $260.000 Required: 1. Prepare a schedule of expected cash collections from sales, by month and in tofal, for the second quarter. 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 zoth