Check my werk 6 You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise topment. The following Information is available about the company's operacion 20 The cash bace on December 1 is $41000 b. Actual sales for October and November and expected sales for December are as folio October December Cachas 3.45,400 17.400 395,000 Solescent 5415,000 614,00 $ 42,00 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 wil total $376,000 for Decembet Thirty percent of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory pechuses total 174.500, all of which will be paid in December d. Seiling and administrative expenses are budgeted at $452.000 for December of the amount. $63,500 is for depreciation c. A new web server for the Marketing Department costing $86500 will be purchased for cash during December and dividends totaling $10.500 will be paid during the month 1. The company maintains a minimum cash balance of $20.000 An open line of credits available from the company's bank to increase its cash balance as needed. Required: 1. Calculate the expected cash collections for December 2. Calculate the expected cash disbursements for merchandise purchases for December 3. 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 1. Calculate the expected cash collections for December 2. Calculate the expected cash disbursements for merchandise purchases for December 3. 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 Mence Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 1. Calculate the expected cash collections for December 2. Calculate the expected cash disbursements for merchandise purchases for December Total cash collections Cash disbursements for merchandise purchases Het Reg 3 >