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Kayak Co . budgeted the following cash receipts ( excluding cash receipts from loans received ) and cash payments ( excluding cash payments for loan
Kayak Co 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.
Kayak requires a minimum cash balance of $ at each monthend. Loans taken to meet this
requirement charge interest per month, paid at each monthend. The interest is computed based
on the beginning balance of the loan for the month. Any preliminary cash balance above $ is
used to repay loans at monthend. The company has a cash balance of $ and a loan balance
of $ at January Prepare monthly cash budgets for January, February, and March.
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