E9-30A (similar to) Question He Samson 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 @ (Click the icon to view the expected transactions.) Requirement Prepare a combined cash budget for Samson 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 emptyr, do not enter a zero Use parentheses or a minus sign for negative ending cash balances.) Combined Cash BudgetMore Into For the Months of July through Septem July a. Cash collections from services in July. August, and September, are projected to be $95,000, $152,000, and $123,000 b. Cash payments for the upooming third quarter are projected to be $146,000 in July, $108,000 in August, and $133,000 i Beginning balance of cash Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Financing September. c. The cash balance as of the first day of the third quarter is projected to be $37,000, d. The health center has a posicy that it must maintain a minimum cash balance of $24.000. 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 have its minimum balanice. If the company has more than its minimum balance at the end of any given excess funds to pay off any outstanding line of credit balance. Each month, Samson Health Center pays interest on the prior month's line of credit ending balance. The actual interest rate that the health center will pay floats since it is tied to the prime rate. However, the interest paid during the budget period is expected to be 2% of the pnor month's line of balance (if the company did not have an outstanding balance at the end of the prior month, then the health center 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 the third quarter, Samson Health Center did not have a balance on its line of credit credit ending Plus: New borrowings Less: Debt repayments Less: Interest payments Enter any number in the edit fields and then click Check Answer Print Done remaining MacBook Pro