Newman Medical Clinic has budgeted the following cash flows. January February March Cash receipts $111,000 $117,000 $137,000 Cash payments 95,500 77,500 90,500 32,500 For inventory purchases For S&A expenses 36,500 37,500 Newman Medical had a cash balance of $13,500 on January 1. The company desires to maintain a cash cushion 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. 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 year's 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.) 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 Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity January February March $ 0 $ 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0