$*****$please fill out table$*****$You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following

Information Is avallable about the company's operations:

a$.$ The cash balance on December $1$ is $$40,000.$

b$.$ Actual sales for October and November and expected sales for December are as follows:

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 $$280,000$ for December. Thirty percent of a month's Inventory purchases are pald during the month

of purchase. The accounts payable remaining from November's inventory purchases total $$161,000,$ all of which will be pald in

December.

d$.$ Selling and administrative expenses are budgeted at $$430,000$ for December. Of this amount, $$50,000$ is for depreclation.

e$.$ A new web server for the Marketing Department costing $$76,000$ will be purchased for cash during December, and dividends

totaling $$9,000$ will be pald durling the month.

f$.$ The company maintains a minimum cash balance of $$20,000.$ An open line of credit is avallable from the company's bank to

Increase its cash balance as needed.

Required:

Calculate the expected cash collections for December.

$2$ Calculate the expected cash disbursements for merchandlse purchases for December.

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 pald untll the following month.

Complete this question by entering your answers in the tabs below.

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.