10 7.69 points TI References Problem 7-20A (Algo) Preparing a cash budget LO 7-5 Campbell Medical Clinic has budgeted the following cash flows. Cash receipts $104,000 $110,000 $130,000 Cash payments For inventory purchases 92,000 74,000 87,000 For 55A expenses 33,000 34,000 29,000 Campbell Medical had a cash balance of $10,000 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. Campbell 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.) Section 1: Cash Receipts _ Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing Activities Check my