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Newman Medical Clinic has budgeted the following cash flows. January February March $117,000 $123,000 $143,000...

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Newman Medical Clinic has budgeted the following cash flows. January February March $117,000 $123,000 $143,000 Cash receipts Cash payments For inventory purchases For S&A expenses 98,500 80,500 93,500 39,500 40,500 35,500 Newman Medical had a cash balance of $16,500 on January 1. The company desires to maintain a cash cushion of $10,000. 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. Newman pays its vendors on the last day of the month also. The company hada monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results Required Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget January February March Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity

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