Please solve part 3

You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 will be $40,000. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account OctoberNovember December $65,000 69,00083,800 398,000 521,000595,000 Sales on account are collected over a three-month period in the following ratio: 18% collected in the month of sale, 58% collected in the month following sale, and 21% collected in the second month following sale. The remaining 3% are uncollectible. Purchases of inventory will total $280,000 for December. 29% of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory purchases total $161,000, all of which will be paid in December d. Selling and administrative expenses are budgeted at $429,000 for December. Of this amount, $50,000 is e. A new Web server for the Marketing Department costing $75,000 will be purchased for cash during f. The company must maintain a minimum cash balance of $19,000. An open line of credit is available Required for depreciation. These are paid in the period incurred December, and dividends totalling $9,100 will be paid during the month. from the company's bank to bolster the cash position, as needed. 1. Prepare a schedule of expected cash collections for December Answer is complete and correct. ASHTON COMPANY Schedule of Expected Cash Collections December cash sales 83,800 Collections on account: October sales November sales December sales 83,580 302,180 107,100 576,660 Total cash collections 2. Prepare a schedule of expected cash disbursements for materials during December to suppliers for