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CHECK FIGURE Problem 14-20 Preparing a cash budget Feb. cash surplus before Kinnion Medical Clinic has budgeted the following cash flows. linancing activities: 57,010 Kinnion Medical had a cash balance of $8,000 on January 1. The company desires to mala. tain a cash cushion of $5,000. Funds are assumed to be borrowed, in inerements of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Kinnion pays its vendor 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 all computations to the nearest whole dollar.)