Adams Medical Clinic has budgeted the following cash flows. Cash receipts Cash payments For inventory purchases For S&A expenses Cash Budget Section 1: Cash Receipts January $ 101,000 Total cash available Section 2: Cash Payments 90,500 31,500 Total budgeted disbursements Section 3: Financing Activities Adams Medical had a cash balance of $8,500 on January 1. The company desires to maintain a cash balance of $6,000. 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. Adams 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. February $ 107,000 Required Prepare a cash budget. Note: Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. 72,500 32,500 January March $ 127,000 85,500 27,500 February March

Adams Medical Clinic has budgeted the following cash flows. Adams Medical had a cash balance of $8,500 on January 1. The company desires to maintain a cash balance of $6,000. 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. Adams 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. Note: Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign