**Campbell Medical Clinic Cash Flow Overview**Campbell Medical Clinic has budgeted the following cash flows for the first quarter:| | January | February | March ||-----------------------|---------|----------|---------|| **Cash receipts** | $104,000| $110,000 | $130,000|| **Cash payments** | | | || For inventory purchases | $92,000 | $74,000 | $87,000 || For S&A expenses | $33,000 | $34,000 | $29,000 |**Additional Information:**- The clinic starts with a cash balance of $10,000 on January 1.- The company aims to maintain a minimum cash cushion of $9,000.- Funds can be borrowed in increments of $1,000 and repaid at month-end with a 2% monthly interest rate.- Vendor payments are also made at month-end.- A $40,000 beginning balance exists in the company's line of credit liability.**Task:**Prepare a cash budget while rounding intermediate and final answers to the nearest whole dollar. Any repayments or shortages should be represented with a negative sign.**Cash Budget Structure:**- **Section 1: Cash Receipts**: Record monthly cash inflows.- **Total Cash Available**: Sum of beginning cash and receipts.- **Section 2: Cash Payments**: Outline payments for inventory and S&A.- **Total Budgeted Disbursements**: Sum of all payments.- **Section 3: Financing Activities**: Adjust for borrowing or repayments based on monthly cash needs.This financial planning will ensure Campbell Medical Clinic maintains its fiscal health and meets operational needs effectively.

Cash budget is the sum of cash inflow and outflow during a period . It is generally prepared for a…

ampbell med January February March Cash receipts $104,000 $110,000 $130,000 Cash payments For inventory 92,000 purchases For S&A expenses 33,000 34,000 wing Campbell Medical had a cash balance of $10,000 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 nterest rate is 2 percent per month. Repayments may be made in any amount available. Campbell pays its vendors on he last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability ccount from this year's quarterly results. Cash Budget Section 1: Cash Receipts 74,000 87,000 29,000 Cequired Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any epayments/shortage should be indicated with a minus sign.) January February Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing Activities March

ampbell med January February March Cash receipts $104,000 $110,000 $130,000 Cash payments For inventory 92,000 purchases For S&A expenses 33,000 34,000 wing Campbell Medical had a cash balance of $10,000 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 nterest rate is 2 percent per month. Repayments may be made in any amount available. Campbell pays its vendors on he last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability ccount from this year's quarterly results. Cash Budget Section 1: Cash Receipts 74,000 87,000 29,000 Cequired Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any epayments/shortage should be indicated with a minus sign.) January February Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing Activities March

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What would be the cash disbursements for month 3? Description Month 1 Month 2 Month 3 Month 4 Material Purchases $ 175,000.00 $ 185,000.00 $ 215,000.00 $ 190,000.00 Amount paid in month of purchase 65.00% Amount paid in month after purchase 30.00% Amount paid two months after purchase 5.00% Discounts in month of purchase 3.50% Discount in month after purchase 1.00% Total Cash disbursements in month 3 Show your work below Description Month 1 Month 2 Month 3
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