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DU HW algorithmic 20pt Help 4 Check my work January February March Cash Receipts $517,000 409,500 472.000 Cash payments 3462,700 355,200 329,000 2 points eBook

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DU HW algorithmic 20pt Help 4 Check my work January February March Cash Receipts $517,000 409,500 472.000 Cash payments 3462,700 355,200 329,000 2 points eBook According to a credit agreement with its bank, Kayak requires a minimum cash balance of $30,000 at each month-end. In return, the bank has agreed that the company can borrow up to $140,000 at a monthly interest rate of 1% paid on the last day of each month. The Interest is computed based on the beginning balance of the loan for the month. The company repays loan principal with any cash in excess of $30,000 on the last day of each month. The company has a cash balance of $30,000 and a loan balance of $60,000 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.) Print References March 472.000 KAYAK COMPANY Cash Budget For January, February, and March January February Beginning cash balance $ 30,000 $ 30,000 Cash receipts 517,000 409,500 Total cash available 547,000 439,500 Cash payments (462,700) (355.2003 interest expense (600) (63) Preliminary cash balance 83.700 84 237 Additional loan (loan repayment) (53,700) $ 30,000 Ending cash balance (520,000) $ 30,000 JUL 2upt Connect Seved 4 Help Se bank nas agree that the company can borrow up to $140.JUU at a monthly interest rate OT 1, pard on the last day of each montnine Interest is computed based on the beginning balance of the loan for the month. The company repays loan principal with any cash in excess of $30,000 on the last day of each month. The company has a cash balance of $30,000 and a loan balance of $60.000 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.) 2 points eBook Hint Print References KAYAK COMPANY Cash Budget For January, February, and March January February March Beginning cash balance $ 30,000 $ 30,000 Cash receipts 517.000 409,500 472.000 Total cash available 547,000 439,500 Cash payments (462,700) (355,200) (529,000) Interest expense (600) (63) Preliminary cash balance 83.700 84,237 Additional loan (loan repayment) (53,700) Ending cash balance $ 30,000 $ 30,000 Loan balance $ Loan balance - Beginning of month 60,000 $ 6.300 $ Additional loan (loan repayment) (53,700) Loan balance - End of month $ 6,300

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