Problem 14.20 Preparing a cash budget LO 14-5 Baird Medical Clinic has budgeted the following cash flows: January $ 102, eco Cash receipts Cash payments For inventory purchases For SA expenses For Interest expense 91,880 32,000 1,200 Baird Medical had a cash balance of $9,000 on January 1. The company desires to maintain a cash cushion of $7.000. Funds are assumed to be borrowed and repaid on the last day of each month Renund Required a. Calculate the company's surplus (shortage) of cash before financing for the month of January b. How much does the company need to borrow at the end of January to maintain its cash cushion? a. Surplus (shortage) before financing b. Amount of borrowing