Check my work Problem 14-20A (Algo) Preparing a cash budget LO 14-5 Rooney Medical Clinic has budgeted the following cash flows. January February $113,000 $119,000 March $139,000 40427 Cash receipts Cash payments For inventory purchases For SA expenses 96,500 37,500 78,500 38,500 91,500 33,500 Took Print Rooney Medical had a cash balance of $14.500 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. Rooney 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.) Cash Budget Section 1: Cash Receipts January February March Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayment indicated with a minus sign.) Cash Budget Section 1: Cash Receipts January February March Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing Activities Section 1: Cash Receipts Beginning cash balance Borrowing (repayment) Ending cash balance For inventory purchases Total budgeted disbursements Section 3: Financing Activities Section 1: Cash Receipts Ending cash balance For inventory purchases For S&A expenses Interest expense per month Surplus (shortage) Total budgeted disbursements Section 3: Financing Activities