You have been asked to prepare a December cash budget for Coco Company, a distributor of exercise equipment. The following information is available about the companys operations: The cash balance on December 1 is $41,600. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales $ 81,200 $ 72,000 $ 96,200 Sales on account $ 495,000 $ 512,000 $ 684,000 Sales on account are collected over a three-month period as follows: 20% collected