Problem 14-20A (Algo) Preparing a cash budget LO 14-5 Newman Medical Clinic has budgeted the following cash flows. Cash receipts Cash payments For inventory purchases For SSA expenses January February March $120,000 $126,000 $146,000 100,000 82,000 95,000 41,000 42,000 37,000 Newman Medical had a cash balance of $18,000 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. Newman 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.)