Newman Medical Clinic has budgeted the following cash flows.

	January			February			March
Cash receipts	$	106,000		$	112,000		$	132,000
Cash payments
For inventory purchases		93,000			75,000			88,000
For S&A expenses		34,000			35,000			30,000

Newman Medical had a cash balance of $11,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Repayments may be made in any amount available. Newman 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. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.)

Cash Budget January February March Cash available 000 Less: Cash payments 0 0 0 Total budgeted payments Payments minus receipts 0 0 0 Financing Activity $ $ $