Chrome File Edit View History Bookmarks Profiles Tab Window Help Q Tue Mar 28 5:43 PM >> The Sopranos - MovieBo X Canvas at ECU | Canvas |X Assignments: 2023 Sprir X M Question 1 - HW 8 (Ch 8 x Search Results | Course | X G screenshot on mac - Goc x + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%2... (1) ... M Gmail YouTube ECU >2 MovieBoxPro Introducing ChatG... Home - OneDrive HW 8 (Ch 8) S23 i Saved Help Save & Exit Submit Check my work 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: 100 April May June Total Budgeted sales (all on account) $ 420, 000 $ 620, 000 $ 240, 000 $ 1, 280, 0 points From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $350,000, and March sales totaled $380,000. 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 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 March sales April sales May sales June sales Total cash collections