Fanning Medical Clinic has budgeted the following cash flows. Cash receipts January $ 105,000 February $...

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Fanning Medical Clinic has budgeted the following cash flows. Cash receipts January $ 105,000 February $ 111,000 March $ 131,000 Cash payments For inventory purchases For S&A expenses 92,500 33,500 74,500 34,500 87,500 29,500 Fanning Medical had a cash balance of $10,500 on January 1. The company desires to maintain a cash balance of $10,000. 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. Fanning 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 Section 1: Cash Receipts Total cash available Section 2: Cash Payments January February March $ 0 $ 0 0 0 Total budgeted disbursements 0 0 Fanning Medical Clinic has budgeted the following cash flows. Cash receipts January $ 105,000 February $ 111,000 March $ 131,000 Cash payments For inventory purchases For S&A expenses 92,500 33,500 74,500 34,500 87,500 29,500 Fanning Medical had a cash balance of $10,500 on January 1. The company desires to maintain a cash balance of $10,000. 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. Fanning 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 Section 1: Cash Receipts Total cash available Section 2: Cash Payments January February March $ 0 $ 0 0 0 Total budgeted disbursements 0 0