2 You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's The cash balance on December 1 is $51,200 Actual sales for October and November and expected sales for December are as follows Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% colected in the month following sale, and 18% collected in the second month following sale. The remaining 2% is uncolectible. E Purchases of inventory will total $346,000 for December Thirty percent of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory purchases total $177,000, all of which will be paid in December Selling and administrative expenses are budgeted at $473,000 for December. Of this amount, $75,000 is for A new web server for the Marketing Department costing $72,000 will be purchased for cash during December, and dividends totaling $17,500 will be paid during the month. The company maintains a minimum cash balance of $20,000. An open line of credit is available from the company's bank to bolster the cash position as needed. Prepare a schedule of expected cash collections for Prepare a schedule of expected cash disbursements for