Kaiser, Inc. has the following budgeted cash collections from the cash receipts budget and cash payments (excluding loan principal repayments and interest payments) from the cash disbursements budget for the next quarter (April, May, \& June). In addition, Kaiser's beginning cash balance as of April 1 is $15,350. Kaiser, Inc. would like to maintain a minimum $15,000 cash balance at all times. In order to achieve this goal Kaiser has negotiated a line of credit with the bank. If the preliminary cash balance falls below $15,000 Kaiser will borrow the necessary funds to keep their balance above the desired amount. If the preliminary cash balance is above the $15,000 minimum balance they will use any excess to pay down any outstanding loan balance at the time. The interest rate on any outstanding line of credit balance is 6% per year. The interest is paid at the end of each month and is computed on the beginning loan balance for the month. They have a zero balance on their line of credit on Aprit 1st. Kaiser, Inc. Cash Budget For April, May, June Line of Credit balance \begin{tabular}{l|l|l|} \hline \multicolumn{1}{|c|}{ Aprit } & May & June \\ \hline Loun balance at bes. of month $ & $ & $ \\ \hline doditionak money borrowed $ & $ & $ \\ \hline principal amount repuid $ & $ & $ \\ \hline Lon balance at end of month $ & $ & $ \\ \hline \end{tabular}