Anderson Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur (Cick the icon to view the expected transactions) Requirement Prepare a combined cash budget for Anderson Health Center for the third quarter, with a column for each month and for the quarter total. (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.) More Info a. Cash oollections from services in July, August, and September, are projected to be $90.000. $152000, and $120,000 b. Cash payments for the upcoming thlasquarter are projected to be $143.000 in July, $100.000 in August, and $133.000 in respectively September Total C. The cash balance as of the first day of the third quarter s projected to be $31,000 ess d. The health center has a policy that it must maintain a minimum cash balance of $.20,000 aexcess funds to pay off any outstanding line of credit balance, Each month. Anderson Health Center pays interest on the prior Plu! | rate. However, the interest paid during the budget penod is expected to be 2% of the pnor month's line of credit ending Les the third quarter. Anderson Health Center did not have a balanoe on its line of credit The health center has a line of credit with the local bank that allows it to borrow funds in months that it would not otherwise Ihave its minimum balance Eni if the company has more than its minimum balance at the end of any given month, it uses the month's line of credit ending balance. The actual interest rate that the health center willpay floats since it is tied to the prime balance (if 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). All line of credit borrowings are taken or paid off on the first day of the month. As of the first day of Print Done Question Hel Woodlawn Health Center provides a variety of medical services. The company is preparing its cash budget for the uarter. The following transactions are expected to occur (Click the icon to view the expected transactions.) equirement Prepare otal. (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 ash balances) a combined cash budget for Woodlawn Health Center for the third quarter with a column for each month and for the quarter Combined Cash Budget For the Months of July through September July AugustSeptember Quarter Beginning balance of cash Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Financing: Plus: New borrowings Less: Debt repayments Less: Interest payments Ending cash balance ter any number in the edit fields and then click Check
