SHOW ALL YOUR WORKS FOR YOUR ASNWERS: Calculate "Beginning balance of cash, Total cash available, Ending cash balance before financing, New borrowings, Ending cash balance September Requirement Prepare a combined cash budget for Anderson 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 parentheses or a minus sign for negative ending cash balances.) Combined Cash Budget For the Months of July through September September Beginning balance of cash $ July August 30,000 $ 22,000 98,000 157,000 Plus: Cash collections 126,000 Total cash available Less: Cash payments 128,000 144,000 (16,000) 179,000 109,000 70,000 137,000 Ending cash balance before financing Financing 38,000 Plus: New borrowings Less: Debt repayments (38,000) Less: Interest payments (380) $ 22,000 $ 31,620 Ending cash balance a. Cash collections from services in July, August, and September, are projected to be $98,000, $157,000, and $126,000 respectively. b. Cash payments for the upcoming third quarter are projected to be $144,000 in July, $109,000 in August, and $137,000 in September c. The cash balance as of the first day of the third quarter is projected to be $30,000. d. The health center has a policy that it must maintain a minimum cash balance of $22,000. 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, Anderson 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 borrowings are taken or paid off on the first day of the month. As of the first day of the third quarter, Anderson Health Center did not have a balance on its line of credit