Preparing a cash budget 10 7-5 Newman Medical Clinic has budgeted the following cash flows. Newman Medical had a cash balance of $10, 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 m 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 ability 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 dollar amount.)