2. You have been asked to prepare a December cash budget for Ahnaf Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is Tk 45,000. b. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales . . . Tk 60,000 Tk 75,000 Tk 80,000 Sales on account Tk 450,000 Tk 520,000 Tk 600,000 Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the month following sale, and 18% collected in the second month following sale. The remaining 2% is uncollectible. c. Purchases of inventory will total Tk 280,000 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 Tk 161,000, all of which will be paid in December. d. Selling and administrative expenses are budgeted at Tk 430,000 for December. Of this amount, Tk 50,000 is for depreciation. e. A new web server for the Marketing Department costing Tk 76,000 will be purchased for cash during December, and dividends totaling Tk 9,000 will be paid during the month. f. The company maintains a minimum cash balance of Tk 20,000. An open line of credit is available from the company's bank to bolster the cash position as needed Requirements: A) Prepare a schedule of expected cash collections for December. B) Prepare a schedule of expected cash disbursements for merchandise purchases for December. C) Prepare a cash budget for December. Indicate in the financing section any borrowing that will be needed during the month. Assume that any interest will not be paid until the following month