F43:33 7858 08100%6500 homework.docxConnectX + vxhttps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhe !!]. ..Week of June 29 iSavedHelpSave & ExitSubmitCheck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion.Return to questionPaymore’s labor and administrative expenses are $65 per quarter and interest on long-term debt is $40 per quarter. Paymore’s cashbalance at the start of the first quarter is $40 and its minimum acceptable cash balance is $30. Assume that Paymore can borrow up to$100 from a line of credit at an interest rate of 2% per quarter. On average, one-third of sales are collected in the quarter that they aresold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $336. On10average, two-thirds of purchases are paid for in the quarter that they are purchased, and one-third are paid in the following quarterpointsPrepare a short-term financing plan using the above table. (Leave no cells blank. Enter ‘0’ when necessary. Negative amounts2 decimal places.)should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers in millions of dollars rounded tox Answer is not complete.Quarter(figures in $ millions)FirstSecondThirdFourthA. Cash requirementsCash required for operations270.00 * $ 252.00 X $ 288.00 * $ 288.00 XInterest on bank loan0.00 $ 40.00 X $ 40.00 X $40.00 XTotal cash required270.00$ 292.00 $ 328.00$ 328.00B. Cash raised in quarterLine of credit5.00 XTotal cash raised5.00$0.000.00$0.00C. Repayments of bank loanD. Addition to cash balancesGraw< Prev7 of 12 Next >


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