Ashton Company, a distributor of exercise equipment, is preparing a cash budget for Decembet. it provided the following illarnation a. The cash balance on December 1 is $53,400. b. Actual sales for October and November and expected sales for December are as follows: e month of sile, 601 colected in the Sales on account are collected over a three-month period as 1onwwa. 2 sale. The remaining 2% are uncolectble. of purchase. The accounts payable remaining from Novembers December. d. Selling and administrative expenses are budgeted at $516,000 for $121,500 will be purchased for cash during Decembec, and dividens e. A new web server for the Marketing Department costing $121. totaling $13,000 will be paid during the month. f. The company maintains a minimum cash increase its cash balance as needed. Required: For December: 1. Calculate the expected cash collections. 2. Calculate the expected cash disbursements for merchandise purchases. 3. Prepare a cash budget. Indicate in the financing section any borrowing needed during the morth. Assume any narest wat nat se paid until the following month. by entering your answers in the tabs below