Preparing a cash budget Newman Medical Clinic has budgeted the (blowing cash flows. Newman Medical had a cash balance of $15, 500 on January 1. The company desires to maintain a cash cushion of $8,000. 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 many 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 dollar amount.)