Baird Medical Clinic has budgeted the following cash flows $102,000 $108,000 $128,ee0 Cash receipts Cash payments 86,000 32,e00 33,08028,800 91,800 73,000 For S&A expenses 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 hada 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 e minus sign.) Baird Medical Clinic has budgeted the following cash flows Cash receipts Cash payments For inventory purchases For S&A expenses 91,e00 73,000 86,000 32,000 33,000 28,000 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 years 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. ) January February March S 9,000(12000) (10,000) cash balance 102.000 108,000 96,000 111,000 91.000 73,000 86,000 DR nnn