Hoyt Medical Clinic has budgeted the following cash flows.

Hoyt Medical had a cash balance of \($8,000\) on January 1. The company desires to maintain a cash cushion of \($5,000\) . Funds are assumed to be borrowed, in increments of \($1,000\) , and repaid on the last day of each month; the interest rate is 1 percent per month. Hoyt pays its vendor on the last day of the month also. The company had a \($40,000\) beginning balance in its line of credit liability account.

Required
Prepare a cash budget. (Round all computations to the nearest whole dollar.)

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January February March Cash receipts $100,000 $106,000 $126,000 Cash payments For inventory purchases 90,000 72,000 85,000 For S&A expenses 31,000 32,000 27,000