story Bookmarks Window 3896 CO Tue 7:34 PI Module 14 Homework Help Save & Exit Submit Check my work 4 Benson Medical Clinic has budgeted the following cash flows $103,000 $109,000 129,000 Cash payments For inventory purchases For S&A expenses 91,500 73,500 8,500 32,500 33,500 28,500 Benson Medical had a cash balance of $9,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results Required References Repayments may be made in any amount available. Benson pays its vendors on the last day of the month also. The company had a 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. )