Perez Medical Clinic has budgeted the following cash flows.

	January			February			March
Cash receipts	$	111,000		$	117,000		$	137,000
Cash payments
For inventory purchases		95,500			77,500			90,500
For S&A expenses		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 this years quarterly results.

Required

Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. )

Cash Budget	January	February	March
Section 1: Cash Receipts
		$0	$0
Total cash available	0	0	0
Section 2: Cash Payments
Total budgeted disbursements	0	0	0
Section 3: Financing Activities
	0	0	0
	$0	$0	$0