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I need help on my managerial accounting homework. 3 Thornton Medical Clinic...

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Accounting

I need help on my managerial accounting homework.

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3 Thornton Medical Clinic has budgeted the following cash flows: January February Narch Cash receipts Cash payments $116,000 122,000 $142,000 10 points For inventory purchases For S&A expenses 98,000 39,000 80,000 40,000 93,000 35,000 Thornton Medical had a cash balance of $16,000 on January 1. The company desires to maintain a cash cushion of $9,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month. Repayments may be made in any amount available. Thornton 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 eBook Print 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.) References Cash Budget January February March Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity

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