The expected cash balance at january 1, 2016, is $82,000. brewster wants to maintain a cash balance at the end of each month of at least $80,000. short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. prepare a cash budget for the quarter ended march 31, 2016.