Problem 14-20 Preparing a cash budget LO 14-5 Fayette Medical Clinic has budgeted the following cash flows: January $249,99 February $ 232,000 March $ 272,090 Cash receipts Cash payments For inventory purchases For S&A expenses 220,000 62,000 164,000 64,000 190,000 54,000 Fayette Medical had a cash balance of $16,000 on January 1. The company desires to maintain a cash cushion of $10,000. Funds are assumed to be borrowed, In Increments of $2,000, and repald on the last day of each month; the Interest rate is 1 percent per month Repayments may be made in any amount available. Fayette pays Its vendors on the last day of the month also. The company had a monthly $80,000 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 Intermediate and final answers to the nearest whole dollar amounts.) Cash Budget Section 1: Cash receipts January February March S 0 $ 0 0 0 0 Total cash available Section 2: Cash payments 0 0 Total budgeted disbursements Section 3: Financing activities 0 0 0 0 S 0 0