Slvor Company makes a product that is very poputar as a Mother's Day gift. Thus, poak soles occur in Moy of each year, as shown the company's sales budget for the second quarter given below: From past exporience, the company has learned that 20% of a month's sales are collected in the month of sale, another 60% are collocted in the month following sale, ond the remaining 20% are collected in the second month following sale. Bad debts are negligible and can be ignored. February soles totaled $390,000, and March soles totaled $420,000. 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 recelvoble balance on June 30th? 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. Silver Company mokes a product that is very popular as a Mothor's Day gift. Thus, peok sales occur in May of oach year, as shown the company's sales budget for the second quarter given bolow: From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 60\% are collected in the month following sale, and the remaining 20% are collected in the second month following sale. Bad debts are negligible and can be ignored. February solos totaled $390,000, and March sales totaled $420,000. 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. What is the accounts recelvabie balance on June 30 th