Siver Compony mokes a product that is very popular as a Mother's Day gif. Thus, peak sales accur ari May of eioct yeas, as shcwm in the company's sales budget for the second quarter given below: mwifiecect sates (all on ackatent) From past experionce. the company has learned that 25% of a month's sales are coltected in mhe month of sale, ariother 65\% are Required: 1. Prepare a sclieduie of expected cash collections from sales, by monti and in total, fos the second quarter. Required: What is the accotants receivable balance on lune 30 bh? Complete this question by entering your ariswers in the tabs belaw. Prepare a schedule of expected cash colfections from sales, by month and in total, for the thecond quarter. From past experience, the company has leamed that 25% of a month's sales are collected in the month of sale. another collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts negligible and can be ignored. February sales totaled $400,000, and March sales totaled $430.000. 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 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 30 th