Practice Chpi 8 0 Saved Help Save& Exit Subm 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 ' W the company's sales budget for the second quarter given below: I H April May June Total Budgeted sales (all on account) '5 390,900 $ 590,099 $ 239,690 $ 1,210,999 2 points From past experience. the company has learned that 25% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 15% ale Collected in the second month following sale. Rad debts are \" Sk'ppe'j negligible and can be ignored. February sales totaled $320,000, and March sales totaled 3350.000, Required: 9'30\" 1. Prepare a schedule of expected cash collections from sales. by month and in total, for the second quarter. mm 2. What is the accounts receivable balance on June 30th? Print R _ Complete. this question by entering your answers in the tabs below. I-'it-'TPHCES r' e , ' l Required 1 \" Reqmred '2 Prepare a schedule of expected cash collections from sales, by month am in total/ for" the second quarter: February sales March salt-rs April sales May sales Q Search L. Wildl is wit accounts receivable Udidice Uil Julie Sun: Complete this question by entering your answers in the tabs below. points Required 1 Required 2 Skipped Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections eBook Apri May June Total Hint February sales $ 0 Print March sales References April sales May sales o June sales o Total cash collections $ o $ o $ o $ 0 Required 2 > Graw Prev. 1 of 5 Score answer > Hill Partly sunny Q Search X F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12Translate Capstone Project: (... Practice Chpt 8 i Saved He April May June jotal Budgeted sales (all on account) $ 390, 000 $ 590, 000 $ 230,000 $ 1, 210, 000 From past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are 2 negligible and can be ignored. February sales totaled $320,000, and March sales totaled $350,000. points Required: Skipped 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? eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1 Required 2 References What is the accounts receivable balance on June 30th? Total accounts receivable at June 30 Hill Q Search