Saved Helg CA #32 1 Kayak Company 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. 2 points 84 Cash Receipts Cash payments January $ 515,000 $ 457,400 February 402.000 344,400 March 464,000 520,000 Kayak requires a minimum cash balance of $40,000 at each month-end. The company can borrow money 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. Any preliminary cash balance above $40,000 is used to repay loans at month-end. The company has a cash balance of $40,000 and a loan balance of $80,000 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.) eloos References KAYAK COMPANY Cash Budget January 5 40,000 February March Beginning cash balance Totalcash available 0 0 Total cash payments Preliminary cash balance MC HII Graw Proy 1 of 3 !!! Next > Adv CA#32 0 Saved 1 KAYAK COMPANY Cash Budget January $ 40,000 February March Beginning cash balance points Total cash available 8 14:45 eBook 0 0 Hint Total cash payments Preliminary cash balance Loan activity References Ending cash balance Loan balance $ 80,000 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month