Acct301 week2

LEARNet X DeVry Studen x ] Week 2: Quiz x Question 2 - 1 x Question 8 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253%252F%252FIms.mheducation.com%252Fmghmiddleware% Week 2: Quiz Soved 2 Baird Medical Clinic has budgeted the following cash flows: January February March Cash receipts $102, 600 $108, 000 $128, 080 Cash payments For inventory purchases 91,600 73, 600 86,060 10 For SBA expenses 32,090 33, 600 28,600 points Skipped Baird Medical had a cash balance of $9,000 on January 1. The company desires to maintain a cash cushion of $7,000. 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. Baird 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.) Cash Budget January February March Section 1: Cash Receipts S 0 5 Total cash available 0 Section 2: Cash Payments Total budgeted disbursements 0 Section 3: Financing Activities 0 o S O S