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 companys operations:

a.	The cash balance on December 1 is $45,000.
b.	Actual sales for October and November and expected sales for December are as follows:

	October		November		December
Cash sales	$	80,800	$	74,000	$	98,200
Sales on account		525,000		559,000		643,000

	Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% 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 $371,000 for December. Thirty percent of a months inventory purchases are paid during the month of purchase. The accounts payable remaining from Novembers inventory purchases total $201,500, all of which will be paid in December.
d.	Selling and administrative expenses are budgeted at $506,000 for December. Of this amount, $89,100 is for depreciation.
e.	A new web server for the Marketing Department costing $95,000 will be purchased for cash during December, and dividends totaling $13,500 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 companys bank to bolster the cash position as needed.