E] v U E B ezto.mheducation.corn C; (D [I] + SE Student-.,. 2'? PRM-1111... a? SYS-1003... Cambrian... Cambrian... Cambrian... m Question... Q SilverCo... 8 Down Und,.. Dashboard In What are... Quiz #5 covering Chapter 7 and 11 a Saved He\E] V U E Beztomheducationcom C (.9 [I] + DD DD Student-... 5'? PRM-1111... a? SYS-1003... Cambrian... Cambrian... Cambrian... Question... Q SilverCo... 8 Down Und,.. u Dashboard In What are... Quiz #5 covering Chapter 7 and 11 0 Saved Help Save & Exit Submit April. May June Total 2 . Budgeted sales $400 , 000 $600, 000 $300, 000 $1, 300, 000 From past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 65% are collected in the month following the sale, and the remaining 10% are collected in the second month following the sale. Bad debts are negligible and can be ignored. February sales totalled $380,000, and March sales totalled $360,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. February sales March sales April sales May sales June sales Total cash collections 2. Assume that the company will prepare a budgeted balance sheet as of June 30. Compute the accounts receivable as of that date. Next > g ( Prev 2 of 4