Check my we n 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 $46,000 b. Actual sales for October and November and expected sales for December are as follows October r December Cash sales Sales on account s 78,2e0 77,600 95,888 460,000 534,0ee 606,000 Sales on account are collected over a three-month period as follows: 20% collected inthe 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 $352,000 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 $209,000,all ofwhich willbe paid in December d Selling and administrative expenses are budgeted at $505,000 for December Of this amount, $60,700 is for depreciation. e. A new web server for the Marketing Department costing $102,000 will be purchased for cash during December, and dividends