work Help Save & E 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: April May June Total Budgutad sales (all on account) $330,000 $530,000 5210,000 $1.070,000 From post 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 sne. Bad debts are negligible and can be ignored. February sales totaled $260,000, and March sales totaled $290,000 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 1 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. cBook Schedule of Expected Cash Collections Aprint May June Hint Total Print References February sales March sales April sales May sales June salos Total cash collections Required 2 > Prey 1 of 5 Next > Ch 8 Homework Tid 1 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? 4 points Complete this question by entering your answers in the tabs below. - Required 1 Required 2 Hint What is the counts receivable balance on June 30th? Reference Total account cevable at June 30 (Required 1 ME Prey 1 of 5 Next > ME