MUST SHOW WORK! Part VI. (24 Points) Rahman Products, a distributor of organic beverages, needs a cash budget for December. The following information is available: a. The cash balance at the beginning of December $12,000. b. Actual sales for October and November and expected sales for June are as follows: +++++ October November December Cash Sales $ 7,500 $ 6,250 $ 6,000 Sales on account 20.000 32000 40,000 Total Sales $27.500 $38,250 $46,000 Sales on account are collected over a three-month period in the following ratio: 10% collected in the month sale, 70% 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 $25,000 for December. Twenty percent of a month's inventory purchases are paid for during the month of purchase. The accounts payable remaining from November's inventory purchases total $16,000, all of which will be paid in December d. Selling and administrative expenses are budgeted at $13,000 for December. Of this amount, $4,000 is for depreciation. Purchase of a copier in December for $4,000. . Equipment costing $18,000 will be purchased for cash during December, and dividends totaling $3,000 will be paid during the month. Sale of old assets in December for $1,000. f. The company must maintain a minimum cash balance of $12,000. An open line of credit is available from the company's bank to bolster the cash position as needed. Required: 1. Prepare a cash budget for December. Indicate in the financing section any borrowing that will be needed during December. 2. Prepare a schedule of expected cash collections for December 3. Prepare a schedule of expected cash disbursement for December