Perez Medical Clinic has budgeted the following cash flows. Cash receipts January February March $111,000 $117,000 $137,000 Cash payments For inventory purchases For S&A expenses 95,500 77,500 90,500. 36,500 37,500 32,500 Perez 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. Perez 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 last year's quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments should be indicated with a minus sign.) Cash Budget Section 1: Cash Receipts Beginning cash balance Add: Cash receipts January February March $ 13,500 $ 10,300 $ 111,000 117,000 127,300 137,000 124,500 127,300 264,300 Total cash available Section 2: Cash Payments For inventory purchases 95,500 For S&A expenses 36.500 Interest expense per month 1,200 Total budgeted disbursements Section 3 Financing Activities 133,200