On 1 st December 2011 the Sadie and Basilica Saddle Company, a saddlers producing custom made bridles for equestrian teams participating in the 2012 Olympic Games in London, are expecting to project cash receipts and disbursements to 31st January 2012. On this later date a cheque will be payable for 100 000. This amount was borrowed in September 2011. The trial balance on 1st December 2011 shows in part the following information: Cash 10 000 Debtors 280 000 Allowance for bad debts 15800 Stock 87 500 Creditors 92 000 A sales policy of the company is to give a 2% discount if payments are made within the first 10 days of the month after purchase, while the balance would be due at the end of the month after purchase. It is common that 70% of the billing will be collected within the first 10 days of the month of the purchase, 20 % by the end of the month after purchase, 8% will be collected within the following month and 2 % will be uncollectable. There are no cash sales; the average selling price for the company's products is 100 per unit. The actual and estimated sales are: October Actual 180 000 November Actual 250 000 December Estimated 300 000 January Estimated 150 000 February Estimated 120 000 Total Estimated for year ending 30.06.2012 1500 000 All purchases are payable within 15 days. Therefore, approximately 50% of the purchases in the month are due and payable in the next month. The average unit purchase cost is 70. Target closing stocks are 500 bridles plus 25% of the next month's unit sales. Total budgeted marketing distribution and customer service costs per year are 400 000 from which 150 000 is considered fixed and includes depreciation of 30 000. Both fixed and variable marketing distribution and customer service costs are payable as incurred. Task Prepare cash budget for December 2011 and January 2012.Supply supporting schedules for collections of debtors due payments for raw materials, and marketing, distribution and customer service costs