\#1 Clearlake Medical Center has the following budgets: Clearlake had a cash balance on January...
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Accounting
\#1 Clearlake Medical Center has the following budgets: Clearlake had a cash balance on January 1 of $15,000 and a liability from its line of credit of $80,000. Funds borrowed have a 1% interest rate per month. Repayments of the loan and payments to Clearlake's vendors are assumed to be made on last day of the month. The company desires to maintain a cash cushion of $10,000. Required: a. Prepare a cash budget. b. How long did it take you to complete this
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