1 A B 2 Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest 3 payments) for the first three months of next year. (Click on the Graded Worksheet Tab below.) 6 January A5678J February March Cash Receipts $525,000 Cash payments $475,000 400,000 350,000 450,000 525,000 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1% interest per month, paid at each month-end. The 10 interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. 13 13 Minimum cash balance 14 Monthly interest rate 15 January 1 cash balance 16 January 1 loan balance. 17 $30,000 1% $30,000 $60,000 18 Required: Prepare monthly cash budgets for January, February, and March. 19 E F G 20 21 22 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show yo 23 Nothing in this area will be graded, but it will be submitted with your assignment. 24 1 2 Please help me solve with formulas for each cell & show your work! A B 3 Required: Prepare monthly cash budgets for January, February, and March. D E F G 4 5 6 KAYAK COMPANY Cash Budget January February March 7 Beginning cash balance 8 9 Total cash available 10 Less: Cash payments for 11 All items excluding interest Interest on loan 0 0 0 13 Total cash payments 14 Preliminary cash balance 16 Ending cash balance 21 2345678 22223226 Loan balance Beginning of month 19 Additional loan (loan repayment) 20 Loan balance, end of month Loan balance $0 $0 $0 24 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your w 25 Nothing in this area will be graded, but it will be submitted with your assignment.