< > Disney+ | Video Player ezto.mheducation.com ACCT-222-350/351 - 60637/6... M 1- Ch 20: Homework - Connect M Integrated Excel (EX 20-17) -... Excel McGraw Hill Excel Question - Saved Search (Option + Q) File Home Insert Draw Formulas Data Review View Help Calibri 11 B A1 General 0 .00 .00 0 C> M Integrated Excel Tool Course Hero Xfx Accessibility tab summary: Information about Kayak company is provided in rows 2 to 16. A statement for student presentation is provided in row 18. B D E F G I A H J K 1 Kayak Company budgeted the following cash receipts (excluding cash receipts from 2 3956580 loans received) and cash payments (excluding cash payments for loan principal and 3 interest payments) for the first three months of next year. 7 January 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 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 10 company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. 13 Minimum cash balance $30,000 1% 14 Monthly interest rate 15 January 1 cash balance 16 January 1 loan balance $30,000 $60,000 18 Required: Prepare monthly cash budgets for January, February, and March. 19 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 your work. 23 Nothing in this area will be graded, but it will be submitted with your assignment. 24 25 = Question Data Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Editing T McGraw Hill Comments ... Check Answers:KHC:CDICE_ Check My Work Legend Graded cell: Leave blank if no answer is needed. Scratchpad: Use as a non-graded workspace Save and Return to Assignment Give Feedback to Microsoft 100% +