Question

:0 of 1 pt 5 of 5 (3 complete) HW Score: 29.11% , 1.46 of 5 pm B0A (similar to) Question Help ette Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are ected to occur: Click the icon to view the expected transactions.) quirement epare a combined cash budget for Monette 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 ave the box empty; do not enter a zero. Use parentheses or a minus sign for negative ending cash balances.) 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 Enter any number in the edit fields and then click Check Answer Check Answer 3 Darts remaining Clear All This course (Managerial Accounting 2603 Fall 2019) is based on Braun: Managerial Accounting Se Terms of UseiPrivacy Policy CopyrightO 2019 Pearson Education inc. All Rights Reserved 27

Answer 1

	July	August	September
Beginning balance of Cash	$                 32,000	$           23,000	$         33,220
Plus: Cash Collections	$                 95,000	$        1,56,000	$     1,20,000
Total Cash Available	$              1,27,000	$        1,79,000	$     1,53,220
Less : Cash Payments	$              1,43,000	$        1,06,000	$     1,38,000
Ending Cash balance before financing	$               -16,000	$           73,000	$         15,220
Financing
Plus: New borrowings	$                 39,000		$           7,780
Less: Debt repayments		$           39,000
Less: Interest repayments		$                 780
Ending Cash balance	$                 23,000	$           33,220	$         23,000

Borrowings for July = $23000+$16000 = $39000
Interest payments in August = $39000 x 2% = $780
Borrowings for Sep = $23000-$15220 = $7780