You have been asked to prepare a December cosh budget for Ashton Company, dlsmOutor of exercLse equlpment. The followlng Informetlon Is evellable eOout the company's operatlons: The cash balance on December 1 Is S44,400 b. Actual sales for October and November and expected sales for December are shown below. Sales on account are collected over three-month perlod as follows: 20% collected [n tine month of sale, collected In the month follovvlng sale, and 18% collected In the second month followlng sale. The remelnlng 2% Is uncollectlble_ Octo r S P2,sge us, ege 88, seg 601, egg 89, gee 617, gee c. Purchases of Inventory WII' total $358,000 for December. Thlrw percent of month's Inventory purchases are pald durlng the month of purchase. The accounts payable remalnlng from November's Inventory purchases total S207,OOO, all of '.',dnlch WII be pald In December. d. Selllng end admlnLstratlve expenses ere budgeted at S45g,ooo for December. Ofthls amount, $64,500 Is for depreclatlon. e. A new web server for Marketlng Department costlng S114,OOO WII' be purchased for cash durlng December, and dlvldends totalllng $9,500 wlll be pald durlng the month. f. The company malntalns mlnlmum cosh balance of S20,OOO_ An open Ilne of credlt Is avellable from the company's bank to bolster the cash posmon as needed.