Required:

Prepare a schedule of expected cash collections for December.

Prepare a schedule of expected cash disbursements during December for merchandise purchases. Prepare a cash budget for December. Indicate in the financing section any borrowing that will be needed during the month. Assume

that any interest will not be paid until the following month. c$.$ Purchases of inventory will total $$342,000$ 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 $$202,000,$ all of which will be paid in

December.

d$.$ Selling and administrative expenses are budgeted at $$523,000$ for December. Of this amount, $$51,500$ is for depreciation.

e$.$ A new web server for the Marketing Department costing $$76,500$ will be purchased for cash during December, and dividends

totalling $$16,500$ will be paid during the month.

f$.$ 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.

Required:

Prepare a schedule of expected cash collections for December.

Please answer all questions and show steps.