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Can someone please help me fill these boxes in, thank you You have been asked to prepare a December cash budget for Ashton Company, a

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Can someone please help me fill these boxes in, thank you

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 operations a. The cash balance on December 1 is $51,200. b. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales 74,200 79,600 83,600 Sales on account 455,000 550,000 673,000 Sales on account are collected over a three-month period as follows: 20% collected in the month of sa 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 $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. d. Selling and administrative expenses are budgeted at $473,000 for December. Of this amount, $75,000 for depreciation e. 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. f. The company maintains a minimum cash balance of $20,000. An open line of credit is available from t company's bank to bolster the cash position as needed Required: 1. Prepare a schedule of expected cash collections for December. Ashton Company Schedule of Expected Cash Collections December cash sales Collections on account: October sales November sales December sales Total cash collections

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