Problem 14-20A (Algo) Preparing a cash budget LO 14-5 Fanning Medical Clinic has budgeted the following cash flows. Cash receipts Cash payments For inventory purchases For SA expenses February March $105,000 $111,000 $131,600 92, see 74, see 87,50 33,500 34, see 29,50 Fanning 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 $1000, and repaid on the last day of each month the interest rate is 3 percent per month Repayments may be made in any amount available. Fanning 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.) January February March Cash Budget Section 1: Cash Receipts Total cash available Section 2 Cash Payments Total budgeted disbursements Section 3: Financing Activities