Ashton Company, a distributor of exercise equipment, is preparing a cash budget for December. It provided the following information: The cash balance on December 1 is $50,800. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales $ 77,800 $ 83,400 $ 99,800 Sales on account $ 475,000 $ 558,000 $ 622,000 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% are uncollectible. Purchases of inventory will total $375,000 for December. Thirty percent of a months inventory purchases are paid during the month of purchase. The accou