Problem 14-20A (Algo) Preparing a cash budget LO 14-5 Gibson Medical Clinic has budgeted the following cash flows. Cash receipts Cash payments For Inventory purchases For SA expenses February March $200,000 $114,000 $134,000 94,000 76,000 89,000 35,000 36,000 31,000 Gibson Medical had a cash balance of $12,000 on January 1, The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month Repayments may be made in any amount available Gibson 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 Total cash available Section 2 Cash Payments Total budgeted disbursements Section 3 Financing Activities