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  3. baird medical clinic has budgeted the following ca

Baird Medical Clinic has budgeted the following cash flows: January FebruaryMarch $102,000 108,000 $128,000 Cash...

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Baird Medical Clinic has budgeted the following cash flows: January FebruaryMarch $102,000 108,000 $128,000 Cash receipts Cash paynents For inventory purchases 91,0 73,000 86,000 28, 000 For S& expenses 32,000 33,000 Baird Medical had a cash balance of $9,000 on January 1. The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month. Repayments may be made in any amount available. Baird pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign.) Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity

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