Please answer the full question (Yes i will rate you, thank you)

You have been asked to prepare a December cash budget for Good Life Fitness, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $80,000. b. Actual sales for October and November and expected sales for December are shown below. 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 $560,000 for December. Thirty percent of a month's inventory purchases are paid during the month of purchase. The account payable remaining from November's inventory purchases total $322,000, all of which will be paid in December. d. Selling and Administrative expenses are budgeted at $860,000 for December. Of this amount $100,000 is for depreciation. e. A new web server for the Marketing Department costing $152,000 will be purchased for cash during December, and dividends totaling $18,000 will be paid during the month. f. The company maintains a minimum cash balance of $40,000. An open line of credit is available from the company's bank to bolster the cash position as needed. Required: 1. Prepare a schedule of expected cash collections for December. 2. Prepare a schedule of expected cash disbursements during December for merchandise purchases. 3. 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