Zisk Company purchases direct materials on credit. Budgeted purchases are April, $$94,000$; May, $$124,000$; and June, $$134,000.$ Cash payments for purchases are: $70\%$ in the month of purchase and $30\%$ in the first month after purchase. Purchases for March are $$84,000.$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.

Kayak requires a minimum cash balance of $$50,000$ at each month$-$end. Loans taken to meet this requirement charge $1\%,$ interest per

month, paid at each month$-$end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary

cash balance above $$50,000$ is used to repay loans at month$-$end. The company has a cash balance of $$50,000$ and a loan balance of

$$100,000$ at January $1.$

Prepare monthly cash budgets for January, February, and March.

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign.

Prepare a schedule of cash payments for direct materials for April, May, and June.

$\backslash$table$[[$ZISK COMPANY$],[$Schedule of Cash Payments for Direct Materials,$],[,$April,May,June$],[$Materials purchases,,,$],[$Cash payments for:,,,$],[,,,],[,,,],[$Total cash payments,,,$]]$