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Franklin Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 1 0 7 , 0 0 0 $ 1 1
Franklin Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ $ $ Cash payments For inventory purchases For S&A expenses Franklin Medical had a cash balance of $ on January The company desires to maintain a cash balance of $ Funds are assumed to be borrowed, in increments of $ and repaid on the last day of each month; the interest rate is percent per month. Repayments may be made in any amount available. Franklin pays its vendors on the last day of the month also. The company had a monthly $ beginning balance in its line of credit liability account from this years quarterly results. Required Prepare a cash budget. Note: Round intermediate and final answers to the nearest whole dollar amounts. Any repaymentsshortage should be indicated with a minus sign.
Franklin Medical Clinic has budgeted the following cash flows.
January February March
Cash receipts $ $ $
Cash payments
For inventory purchases
For S&A expenses
Franklin Medical had a cash balance of $ on January The company desires to maintain a cash balance of $ Funds are assumed to be borrowed, in increments of $ and repaid on the last day of each month; the interest rate is percent per month. Repayments may be made in any amount available. Franklin pays its vendors on the last day of the month also. The company had a monthly $ beginning balance in its line of credit liability account from this years quarterly results.
Required
Prepare a cash budget.
Note: Round intermediate and final answers to the nearest whole dollar amounts. Any repaymentsshortage should be indicated with a minus sign.
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