Thornton Medical Cliple has budgeted the following cash flows. January February March $116,000 $122,bea $142,000 Cash receipts Cash payments For inventory purchases For SA expenses 98,eee 39.000 80,000 40,000 93, cee 35,000 Thornton Medical had a cash balance of $16,000 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. Thornton 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 wbole dollar amounts. Any repayments should be Indicated with a minus sign.) January February March 5 Cash Budget Section 1 Cash Receipts Beginning cash balance Add: Cash receipt Total cash available Section 2: Cash Payments For inventory purchase For SA pentes Interest expense per month 16,000 $ 110,000 132.000 9.2005 122.000 131,200 10.100 142.000 158.100 98.000 39.000 800 80,000 40.000 1.100 93,000 35.000 960 137.800 121.100 128,080 Total budgeted disbursements Section Financing Activities Surplus shortage Borrowing repaymenty 29.120 (5.300) 15,000 9.2005 10.100 6.000 16,100 $ 9,000 30.120 5