You have been asked to prepare a December cash budget for Ashton Company, a dluributor tenerte ecument. The following information is available about the company's operations 8. The cash balance on December 1is 551800 b. Actual Sales for October and November and expected sales for December are as follows: Casale Sales at Sales on account are collected over three month period as follows: 20% colected in the month of sale, 60% collected in the man folosing sale and 188.collected in the second month following sale. The remaining 2 is uncollectible c. Purchases of inventory will to $338.000 for December Thiny percent of a month's inventory purchases are paid more of purchase. The accounts payable remaining from November invertory purchases total $163.000, of of which will be December a. Sering and ministrative expenses are budgeted at 5434,000 for December of this amount, $80.400 is for depreciation A new web server for the Manting Department costing 598,000 will be purchased for cash during December and dividends totsing $55.000 besed during the month The company maraminmun cash balance of $20.000. An open line of credit is available from the compan/berto Increases cas balance as needed Required: 1. Calculate the expected cash corections for December 2 Calculate the expected cash disbursements for merchandise purchases for December 3. Presea con budget for December ndicate in the financing section any borrowing that will be needed during the momme that any interest will not be paid until the following month Complete this question by entering your owers in the tabs below. Read 1. Clate the expected the colections for December 2. Calculate the expected cash disbursements for merchandise purchases for December Total cash collections Cash disbursements for purchases Rg3 > Required: 1 Calculate the expected cash collections for December 2. Calculate the expected cash disbursements for merchandise purchases for December 3. Prepare a cash budget for December indicate in the financing section any borrowing that will be needed during the more that any interest not be paid until the following month Complete this goestion by entering your answers in the tabs below. Red 1 and 2 Prepare a cash budget for December indicate the financing section any borrowing that will be needed during the more nume that my not be and the following month For the Moof December Beginning cash dos Les hommes Pastorier Selling and me Gends and