ACCT 202 - 003/095 Mike Carman & 04/15/20 1:14 PM Save Homework: Chapter 9 Homework Score: 0 of 5 pts E9-30A (similar to) 5 of 6 (3 complete) HW Score: 38.08%, 20.94 of 55 pts Question Help Beriner Health Center provides a variety af medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur.: Click the icon to view the expected transactions.) Requirement Prepare a combined cash budget for Berkner Health Center for the third cuarter, with a colurnn for each month and for the quarter tolal. (If a box is not used in the table leave the box empty, do not enter a zero. Use parentheses or a minus sign for negative ending cash balances.) Berkner Health Center Combined Cash Budget For the Months of July through September July Beginning balance of cash Plus: Cash collections Total Cash svalable i More Info Less: Cash payments Ending cash balance before financing Financing Plus: New borrowings Less: Debl repayments Less: Inleres: payments Ending cash balance a. Cash collections from services in July August, and September, are projected to he $91,000 $157,000, and $126.0100 respectively b. Cash payments for the upcoming third quarter are proiented to be $143.100 in July, S102,000 in August and $138,000 in Seterrber. c. The cash balance as of the first day of the third quarter is projected to be $31,080. d. The health cantar has a noliny that it must maintain a minimum cash balance of $24,00D. The health center has a line of credit with the local bank that allows it ta borrow funds in months that it would not otherwise have its minimum balance. If the company has more than its minimum balance at the end of any given months, it uses the excess funds to pay off any outstanding line of credt balance. Each month, Berkner Health Center pays Interest on the prior month's linc ni credit anding balance. The actual internstrate that the health contor will pay floats since it is tied to the prima rale. However, the interest paid during the budget period is expected to be 3% of the prior month's line of credit encing balance in the company did not have an outstanding balance at the end of the prior month, then the health center does not have to pay any interest). Al line of credit borrowings are taken or paid off on the first day of the month. As of the first day of the third quarter. Berkner Health Center dirl not have a balance an its inn of credit. Print Done Enter any number in the dit finds and then click Check Answer 3 parts 3 remaining Clear All Check