2 16.66 points Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and Interest payments) for the first three months of next year. January February March Cash Receipts Cash payments $ 520,000 $ 463,500 411,000 460,000 Kayak requires a minimum cash balance of $50,000 at each month-end. Loans taken to meet this requirement charge 1%, Interest per month, paid at each month-end. The Interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $50,000 is used to repay loans at month-end. The company has a cash balance of $50,000 and a loan balance of $100,000 at January 1. Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be Indicated with minus sign.) Beginning cash balance Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance 354,500 530,000 Loan balance - Beginning of month Additional loan (loan repayment) KAYAK COMPANY Cash Budget $ January Loan balance S 50,000 100.000 February March

Koyak. Company budgoced the following cash recerpts lorcluding cash roceipts from loans recewod) and cash poyeneres (oxcluding cash payments for loan pinclpdi and interest payments) for the first three months of next year moitth, paid at wach morthend. The imerect is compued based on the beginning bslance of the foun for the morth Afy preliminary. cash balance above $50,000 is ured to repay loans at monthend: The compary has a cash balance of $50,000 and a loan balarice of $500,000 at Janusy 1 Prepuv morthly cash budgots for January. Fubmary, and March. Negatme balances and toan repayment amounts af any should be indicated with minus sion.)