Adams Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 101,000 $ 107,000 $ 127, 000 Cash payments For inventory purchases 90, 500 72, 500 85 , 500 For S&A expenses 31, 500 32, 500 27 , 500 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. Cash Budget January February March Section 1: Cash Receipts Total cash availableCash Budget January February March Section 1: Cash Receipts Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing ActivitiesCash Budget January February March Section 1: Cash Receipts Beginning cash balance Borrowing (repayment) Ending cash balance For inventory purchases Total budgeted disbursements Section 3: Financing ActivitiesCash Budget January February March Section 1: Cash Receipts Ending cash balance For inventory purchases For S&A expenses + Interest expense per month Surplus (shortage) Total budgeted disbursements Section 3: Financing Activities