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Exercise $8-1($Static$)$ Schedule of Expected Cash Collections $[$LO$8-2]$

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Sheped

$\backslash$table$[[,2$eril,May,June,Tetal$],[$Busgeted sales $($all on account$),$$$300,$ eve,SS$00,200,$$$200,000,$$$1,600,006]]$

The company estimates $20\%$ of a month's sales are collected in the month of sale, another $705$ are colected in the month following sale, and the remaining $10\%$ are collected in the second month following sale. Bad debts are negliglole and can be ignored. February sales totaled $$230,000,$ and March sales totaled $$260,000.$

Required:

Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

What is the accounts recelvable bolance on June $30$ en $?$

Complete this question by entering your answers in the tabs below.

Baterences

Required:

Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter:

$\backslash$table$[[$Schedule efl Expected Cash Celiections$],[,$Apell,Mey,Ane,,$],[$February sales,,,,$3,0],[$March sales,,,,,$0],[$Aprl sales,,,,,$0],[$May sales,,,,,$0]]$