July through September and the Quarter please! And hank you!!
esnie 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: i (Click the icon to view the expected transactions.) equirement repare a combined cash budget for Sesnie 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 minus sign for negative ending cash balances.) More Info Sesnie Health Center Combined Cash Budget For the Months of July through September July Beginning balance of cash Plus: Cash collections Total cash available a. Cash collections from services in July, August, and September, are projected to be $98,000, $153,000, and $128,0 respectively b. Cash payments for the upcoming third quarter are projected to be $147,000 in July, $109,000 in August, and $135, September c. The cash balance as of the first day of the third quarter is projected to be $33.000 d. The health center has a policy that it must maintain a minimum cash balance of $26.000. The health center has a line of credit with the local bank that allows it to borrow funds in months that it would not other have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses th excess funds to pay off any outstanding line of credit balance. Each month. Sesnie Health Center pays interest on the month's line of credit ending balance. The actual interest rate that the health center will pay floats since it is tied to the rate. However the interest paid during the budget period is expected to be 3% 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 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 da the third quarter. Sesnie Health Center did not have a balance on its line of credit Less: Cash payments Ending cash balance before financing Financing ter any number in the edit fields and then click Check Answer. parts Sesnie 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 Sesnie 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 pa minus sign for negative ending cash balances.) Beginning balance of cash More Info .X Plus: Cash collections Total cash available a. Cash collections from services in July, August, and September, are projected to be $98,000, S153,000, and 5128,000 Less: Cash payments respectively b. Cash payments for the upcoming third quarter are projected to be $147,000 in July, 5109,000 in August, and $135,000 in Ending cash balance before financing September Financing c. The cash balance as of the first day of the third quarter is projected to be 533,000 d. The health center has a policy that it must maintain a minimum cash balance of $26.000 Plus New borrowings 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 Less: Debt repayments have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses the Less: Interest payments excess funds to pay off any outstanding line of credit balance. Each month. Sesnie 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 3% of the prior month's line of credit ending Ending cash balance 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 and then click Check Answer the third quarter. Sesnie Health Center did not have a balance on its line of credit
