December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations:

1. The cash balance on December 1 is $47,600.
2. Actual sales for October and November and expected sales for December are shown below. 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.

OctoberNovemberDecemberCash sales$78,800$74,400$89,600Sales on account405,000615,000628,000

1. Purchases of inventory will total $351,000 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 $194,500, all of which will be paid in December.
2. Selling and administrative expenses are budgeted at $512,000 for December. Of this amount, $81,400 is for depreciation.
3. A new web server for the Marketing Department costing $104,000 will be purchased for cash during December, and dividends totalling $11,500 will be paid during the month.
4. The company maintains a minimum cash balance of $20,000. An open line of credit is available from the company's bank to bolster the cash position as needed.