Problem 14-20A (Algo) Preparing a cash budget LO 14-5 Campbell Medical Clinic has budgeted the following cash flows. Cash receipts January $104,000 February March $110,000 $130,000 Cash payments For inventory purchases For S&A expenses 92,000 74,000 87,000 33,000 34,000 29,000 Campbell Medical had a cash balance of $10,000 on January 1. The company desires to maintain a cash cushion of $9,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month. Repayments may be made in any amount available. Campbell 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 last year's quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments should be indicated with a minus sign.) Cash Budget Section 1: Cash Receipts January February March < Prev 4 of 4 Next