Lachut Health Center provides a variety of medical services. The company is preparing a cash budget for the upcoming third want. The following transactions are expected to occur Click the icon to view the expected transactions Requirement Prepare a combined cash budoet for LanCeut Ham Center for theird quarter, with a column for each month and for the quarter tobat. If an hout fend les not used in the title ove the breuk teld engy, do not or a minus sign for negative ending More Info LaChut Health Center Combined Cash Budget For the Months of July through September July Beginning balance of cash Plus Cash collections Total cash available Less: Cash payments Ending cash balance before financing Financing Plu: New borrowings Less Debt repayments Less Interest payments Ending cash balance a. Cash collections from services in July, August, and September, are projected to be 596,000, 5156,000, and $121.000 respectively b. Cash payment for the upcoming third quarter are projected to be $140.000 in July $100,000 in August, and $137.000 in September c. The cash balances of the first day of the third quarter is projected to be $35.000 d. The health center has a policy that it must maintain a minimum cash balance of $25,000 The health center has a line of credit with the local bank at allows to borrow funds in months that it would not otherwise have s minimum balance. If the company has more than its minimum balance at the end of any given month uses the EXC funds to pay off any outstanding line of credit balance. Each month LaChut Health Center Days interest on the prior month's line of creditanding 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 ine 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 borrowings are taken by the end of the month when the the cash balance has not motits minimum balance of paid off by the end of the month (when the cash balance is sufficient). As of the first day of the third quarter, LaChut Health Center did not have a balance on its line of credit Print Done uolo