nomeworK. unaprer y Homework Score: 0 of 1p E9-30A (similar to) Hw Score: 0%, 0

Question

nomeworK. unaprer y Homework Score: 0 of 1p E9-30A (similar to) Hw Score: 0%, 0 of 5 pts Requiremernt minus sig for negstive endingcash balances Begineing balance of cash Plus Cash colection a. Cash collections from services in July, August, and Septemb ane projgected to be 97000,$152000and $120 000 respectively h. Cash payments for the upcoming thid quter are projected to be $142,000July$100 000ugust, and $139,000 Ending cath balance betore fnancing Financing September d. The heath certer has a policy that must martin a mnrum cash balance of $2400 ess Debe repaymets Less Interest aments The heath center has a line of credt with the local bank that allows it to borow funds in months that it would nat otherise have its at the end of any given month, in uses the pnme rata However, th-interest pad dung the budget penod is espected to be 3% ofte prior mont's ine of credt ending have to pay any interest) All line of credt

Explanation / Answer

July August September Beginning Cash Balance          31,000             24,000             24,560 + Cash Collections          87,000          1,50,000          1,20,000 Total Cash Available      1,18,000          1,74,000          1,44,560 Less: Cash Payments      1,42,000          1,00,000          1,39,000 Ending Cash Balance before Financing       (24,000)             74,000                5,560 +New borrowings          48,000             18,440 -Debit repayment             48,000 - Interest Payment                1,440                       -   Closing Balance          24,000             24,560             24,000 Outstanding Loan          48,000                       -               18,440

Related Questions

Navigate

• Browse (All)
• Browse N
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.