n=con&external_browser:&launchUrlhttps%253A%252F%252Fpgcconline.blackboard.com%252Fwebapps% Homework Saved Help 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. Cash Cash Receipts payments January $525,000 $472,900 February 409,000 356,900 March 459,000 533,000 * 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 $150,000 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.) noos March KAYAK COMPANY Cash Budget For January, February, and March January February Beginning cash balance $ 30,000 Cash receipts Total cash available Cash payments Interest expense Preliminary cash balance Additional loan loan repayment) Ending cash balance Loan balance Next > Chap 20 Homework Saved Help Save & Exit 1 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 $150,000 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.) 33.33 points eBook March KAYAK COMPANY Cash Budget For January, February, and March January February Beginning cash balance $ 30.000 Cash receipts Total cash available Cash payments Interest expense Preliminary cash balance Additional loan doan repayment) Ending cash balance Loan balance Loan balance Beginning of month 60 000 Additional loan Roan repayment) Loan balance Endal month References ME G 1 of 3 Next >