M Files omework: Chapter 9 Homework MN Score: 88.89%, 8 of 9 pts E9-29A (similar to) i : Chapter 9 Homework 5 of 9 (8 complete) HW Score: 88 to r provides a var ew the expected sh budget for W E Que d to occur More Info he box empty, do not e sign for negativ a. Cash collections from services in July. August, and September, are projected to be $94,000, $152,000, and $121,000 b. Cash payments for the upcoming third quarter are projected to be $146,000 in July, $108,000 in August, and $130,000 in September. c. The cash balance as of the first day of the third quarter is projected to be $35,000. d. The center has a policy that it must maintain a minimum cash balance of $24,000 ne of credit with the local bank that allows it to borrow funds in months that it would not otherwisa have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses the e before financing excess funds to pay off any outstanding line of credit Each month, Woodlawn Health Center pays interest on the The actual interest rate that the health center will pay floats since it is tied to the prior month's line of credit ending balance. prime rate. However, the interest paid during the balance (if the company did not have an outstanding balance at the end of the prior month, then the health center does not have t is expected to be 3% of the prior month's line of credit ending ings 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 on its line of credit ments the edit fields and then click Check Answer Clear All