000 S For inventory purchases 97,500 79,500 92,500 For S&A expenses 38,500 39,500 34,500 Newman Medical had a cash balance of $15,500 on January 1. The company desires to maintain a cash cushion of $8,000. 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. Repayments may be made in any amount available. Newman 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. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget Cash available Less: Cash payments January February March xCengage Digital Learning Question 7-Graded Practic X MATHESO ation.com/ext/map/index.htmit,con-con&external browser-0&launchUrl=http%253A%252F%252F 50 S Cash receipts Cash payments For inventory purchases January February March $115,000 $121,000 $141,000 97,500 79,500 92.500 For S&A expenses 38.500 39.500 34,500 Newman Medical had a cash balance of $15,500 on January 1. The company desires to maintain a cash cushion of $8,000. 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, Repayments may be made in any amount available. Newman 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 (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount) CashBudget C Las Cash pay 0 February March MacBook Pro + NO 2 -> #3 $ 4 G Search or type URL % 95 66 * 5 & 7 7 8 .00 S 2 W E R T Y U 4 S D N X H C LL F GH J > B N M