Gammaro 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.) Prepare a combined cash budget for Gammaro Health Center for the third quarter, wth 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 Gammaro Health Center Combined Cash Budget For the Months of July through September a. Cash collections from services in July, August, and September, are projected to be $92,000, $159,000, and $128,000 Juty August September Quarter respectively b. Cash payments for the upcoming third quarter are projected to be $142,000 in July, $109,000 in August, and $139,000 in Beginning balance of cash Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Financing c. The cash balance as of the first day of the third quarter is projected to be $36,000 d. The health center has a policy that it must maintain a minimum cash balance of $28,000 The health center has a Ine of credt with the local bank that allows it to borrow funds in months that it would not otherwise have its minimum balance. If the to pay off any outstanding line of credr balance. Each month, Gammaro 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 1% of the prior month's line of credit ending 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 borroings are taken or paid oft on the first day of the month. As of the first day of the third quarter, Gammaro Health Center did not have a balance on its line of credit. company has more than its minimum balance at the end of any given month, it uses the excess funds Plus: New borrowings Less: Debt repayments Less: Interest payments Ending cash balance Enter any number in the edit fields and then continue to the next question. Print Done