Business, 26.11.2019 01:31 zoelynn9104

Fayette medical clinic has budgeted the following cash flows: januaryfebruarymarch cash receipts$ 240,000$ 232,000$ 272,000 cash payments for inventory purchases220,000164,000190,000 for s& a expenses62,00064,00054,000 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 this year’s quarterly results. required prepare a cash budget.

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Fayette medical clinic has budgeted the following cash flows: januaryfebruarymarch cash receipts$ 2...

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