points Homewo HW P2 to) Part 1 of 4 O Points: 0 of 3 Save 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 Propare a combined cash budget for Samson Health Center for the third quarter, with a column for each month and for the quarter total. (If an input field is not used in the table leave the input field empty, do not enter a zero. Use parentheses or a minus sign for negative ending cash balances) bamson Heart 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 Plus: New borrowings Less: Debt repayments Less: Interest payments Ending cash balance Video Help me solve this Get more help Clear all Check answer 26 etv A MacBook Air no HW P2 to) Part 1 of 4 HW Score: 0.007 points O Points: 0 of 3 Save pons are - X More info Samson expected (Click Requirem Prepare a the table used in a Cash collections from services in July, August, and September, are projected to be $95,000, S159,000, and $122.000 rospectively b. Cash payments for the upcoming third quarter are projected to be $142,000 in July, $108,000 in August, and 5138,000 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 cash balance of $25,000 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 balance. If the company has more than its minimum balance at the end of any given month, it uses the 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 act 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 balance of 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 we taken by the end of the month (when the the car balance has not metits minimum balance), or paid off by the end of the month (when the cash balance is sufficient). As of the first day of the third quarter, Samson Health Center did not have a balance on its line of credit Beginn Plus: Total Less Ending Finand Plus Print Done Less Less Ending cash balanc C Clear all Check answer Help me solve this Video Get more help A
