www -ON w More info - X a. Cash collections from services in July August, and September, are projected to be $93.000 $156,000 and $121,000 respectively b. Cash payments for the upcoming third quarter are projected to be $141.000 in July $101.000 in August, and $139,000 in September e. The cash balance as of the first day of the third quartet i projected to be 597,000 d. The health center has a policy that it must maintain a minimum cash balance of $27,000 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 of any outstanding line of credit balance Each month. Bentfield 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 Ine of credit onding balanco (f 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 met ils 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 Benttiold Health Center did not have a balance on its line of credit Print Done