Given the following information, how would one solve items 1.), 2.), and a cash budget? Thanks!

Course Documents-MH D Study Guide for Test-2-,/XyD chapter O7Pre-built Ass ?\. ? \ tpx Cal Poly-Managerial Accounting 208: Spring 208 CPP Managerial Section 01 Leroy Brown TING Chapter 07 Pre-bullt Assignment instructlons I help Question 5 (of 5) Save & Exit Submit 500 points You have been asked to prepare a December cash budget for Ashion Company, a distibutor of exercise equipment. The tollowing infarmation is available about the company's operations a. The cash balance on December 1 is $50,800 b Actual sales tor ociober and November and expected sales tor December are as tollows Cash sales Sales on account October November December S T7,800 83 400 99,800 475,000 550,000 622,000 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 llowing sale The remaining 2% is uncollectible Purchases of inventory will total S375,000 for December. Thirly percent of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory purchases total $206 500, all of which will be paid in December. C. d Selling and administrative expenses are budgeted at $440,000 for December. Of this amount, $97,200 is e. A new web server for the Marketing Department costing S80,000 will be purchased for cash during . The company maintains a minimum cash balance or $20,000. An open line of credit is available from the for depreciation. December, and dividends totaling $14,500 will be paid during the month company's bank to bolster the cash position as needed Required: 1. Prepare a schedule of expected cash collections for December. Ashton Company Schedule of Expected Cash Collections December cash sales