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help (1) (Click the icon b view the expected tansactons.) Requitemen an mat enter a zetu. Use parentheses or a minus sign for negalve ending
help (1) (Click the icon b view the expected tansactons.) Requitemen an mat enter a zetu. Use parentheses or a minus sign for negalve ending cash balances a. Cash collections from services in July. August, and September, are projected to be $98,000,5151,000, and $124,000 respectively. b. Cash payments for the upcoming third quarter are projected to be $148,000 in July, $107,000 in August, and $135,000 in September.: c. The cash balance as of the first day of the third quarter is projected to be $31,000. d. The health center has a policy that it must maintain a minimum cast balance of $23,000. The health center has a tine of credit with the local bank that allows it to borrow funds in months that it would not othervise have its minimum balance. If the company has more than its minimum balance at the end of any given month, if uses the excess funds to pay olf any outstanding line of credit balance. Each month, Alderman Health Center pays interest on the prior monthis 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 (it the company did not have an outstanding baiance 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 by the end of the month (when the the cash balance has not met its minimum balance). or paid off by the end of the month (when the cash balance is sulficient). As of the first day of the third quarter. Alderman Health Center did not have a balance on its line of credit
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