Tools Window Help ? https:/hewcorrectmedi htm .t Q Search mework Help Save &Exit Submit Check my work Rund e Medical had a cash balance of $14,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in increments of $1000, 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. Rundle 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 liablity account from this years quarterly results Required 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. S 14,000 (7000) (6,000) Beginning cash balance Add Cash receipts Cash avalable Less: Cash payments 12,000 126,000 118,000 111,000 133,000 6,000 91.000 For S&A expenses Interost expense per 33.000 116.000 24,000 Total budgeted payments Payments minus recepts 7.000) (5,000) 9,000 Surplus ( Financing Activity ?? (7,000): ?- $ (5.000)| $ 9OCO Ending cash balance C Prev 4 of 4 Next ro Tools Window Help ? https:/hewcorrectmedi htm .t Q Search mework Help Save &Exit Submit Check my work Rund e Medical had a cash balance of $14,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in increments of $1000, 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. Rundle 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 liablity account from this years quarterly results Required 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. S 14,000 (7000) (6,000) Beginning cash balance Add Cash receipts Cash avalable Less: Cash payments 12,000 126,000 118,000 111,000 133,000 6,000 91.000 For S&A expenses Interost expense per 33.000 116.000 24,000 Total budgeted payments Payments minus recepts 7.000) (5,000) 9,000 Surplus ( Financing Activity ?? (7,000): ?- $ (5.000)| $ 9OCO Ending cash balance C Prev 4 of 4 Next ro