Problem 7-20A (Algo) Preparing a cash budget LO 7.5 Zachary Medical Clinic has budgeted the following cash flows, Cash receipts Cash payments For inventory purchases For S&A expenses January February March $119,eee $125,000 $145,800 99,500 81,5ee 94,500 40,5ee 41,500 36,500 Zachary Medical had a cash balance of $17,500 on January 1. The company desires to maintain a cash cushion of $6,000. 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. Zachary 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 this year's quarterly results. Required Prepare a cash budget (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. ) Tor 564 expenses 40, 41,500 30,00 Zachary Medical had a cash balance of $17.500 on January 1. The company desires to maintain a cash cushion of $6,000. 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. Zachary 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 this year's quarterly results, Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign.) Cash Budget January March February $ 0 $ 0 0 0 0 Cash available Less: Cash payments 0 0 0 Total budgeted payments Payments minus receipts 0 0 0 Financing Activity $ 0 $ 0 $ 0