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 (Aprib, May, E June). In addition, Kaiser's beginning cash balance as of April 1 is $15,200. Kaiser, Inc, would tike to maintain a minimum $15,000 cash balance at ali times. In order to achieve this goal Kaiser has negotiated a line of credit with the bank. If the preliminary cash balance falis below 515,000 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 Apnil 1st. Prepare the cash budget for the quarter. Enter cash disbursements and loan repayments as a negative number. Round all caiculations to the nearest whole dollar. Kaiser, Inc. Cash Budget For April, May, June \begin{tabular}{cccc} \hline & April & May \\ Beginning Cash Balance & Jane \\ Cash Disbursements \\ Cash payments (given) \end{tabular} Line of Credit balance 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 (Aprib, May, E June). In addition, Kaiser's beginning cash balance as of April 1 is $15,200. Kaiser, Inc, would tike to maintain a minimum $15,000 cash balance at ali times. In order to achieve this goal Kaiser has negotiated a line of credit with the bank. If the preliminary cash balance falis below 515,000 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 Apnil 1st. Prepare the cash budget for the quarter. Enter cash disbursements and loan repayments as a negative number. Round all caiculations to the nearest whole dollar. Kaiser, Inc. Cash Budget For April, May, June \begin{tabular}{cccc} \hline & April & May \\ Beginning Cash Balance & Jane \\ Cash Disbursements \\ Cash payments (given) \end{tabular} Line of Credit balance
