Welcome-My Gre carves Betate goggle clamon University of Fashion IVERI Edational Connect Are 6 Fookmarks Chapter 8 Homework Part 1 (5 points) i Avtok Help Seve & Exit Submit 125 points 1 Silver 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: Budgeted sales (all on account) 1100,000 $500,000 June $200,000 dook H Pie References 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, and March sales totaled $260.000 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 30th? Complete this question by entering your answers in the tabs below. Me Graw Required 11 Required 2 Prepare a schedule of expected cash collectioris from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections Psy 1 or 4 Next > Check my work 1 Required 1 Required 2 125 points Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections April May June Total February sales S 39,000 $ 39,000 eflook March sales 0 Hint April sales 0 Print May sales 0 June sales 0 References Total cash collections S 39,000 $ 05 05 39.000 Required 2 > Check my work 25 oints eBook He Print eferences $500,000 $200,000 $1,000,000 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, and March sales totaled $260,000. 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 30th? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the accounts receivable balance on June 30th? 1 Total accounts receivable at June 30 e to search a 46F 4 1021 AM 5/9/2022