Problem 14-20A (Algo) Preparing a cash budget LO 14-5 Munoz Medical Clinic has budgeted the following cash flows Munoz Medical had a cash balance of $13,000 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 Munoz pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of cledit liability account from last year's quarterly results. \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{1}{|c|}{ Cash Budget } & January & February & March \\ \hline Section 1: Cash Receipts & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline Total cash available & & & & \\ \hline Section 2; Cash Payments & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline Total budgeted disbursements & & & & \\ \hline Section 3: Financing Activities & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular}