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Problem 14-20A (Static) Preparing a cash budget LO 14-5 Fayette Medical Clinic has budgeted the following cash flows January $240, eee February March $232, eee $272, een Cash receipts Cash payments For inventory purchases For 55A expenses 22e, een 62,000 164,00 64,688 190,000 54,000 co Fayette Medical had a cash balance of $16,000 on January 1. The company desires to maintain a cash cushion of $10,000. Funds are assumed to be borrowed, in increments of $2,000, and repaid on the last day of each month, the interest rate is 1 percent per month. Repayments may be made in any amount available Fayette pays its vendors on the last day of the month also The company had a monthly $80,000 beginning balance in its line of credit liability account from last year's quarterly results Required Prepare a cash budget. (Any repayments should be indicated with a minus sign. Round intermediate and final answers to the nearest whole dollar amounts) Prepare a cash budget. (Any repayments should be indicated with a minus sign. Round intermediate and final answers to nearest whole dollar amounts.) Cash Budget Section 1: Cash receipts January February March Total cash availablo Section 2: Cash payments Total budgeted disbursements Section 3: Financing activities