1.

Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below: The company estimates 30% of a month's sales are collected in the month of sale, another 65% are collected in the month followin! sale, and the remaining 5% are collected in the second month following sale. Bad debts are negligible and can be ignored. Februar sales totaled $250,000, and March sales totaled $280,000. 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 recelvable balance on June 30th? Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. sale, and the remaining 5% are collected in the second month following sale. Bad debts are negligit sales totaled $250,000, and March sales totaled $280,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the secon 2. What is the accounts receivable balance on June 30 th? Complete this question by entering your answers in the tabs below. What is the accounts receivable balance on June 30 th