Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 6 january february march cat recrits $328,00 110,0

6 January February March Cat Recrits $328,00 110,000 182,00 C ents 149,90 151,300 528,000 1428...

70.2K

Verified Solution

Question

Accounting

image
6 January February March Cat Recrits $328,00 110,000 182,00 C ents 149,90 151,300 528,000 1428 po ++ According to a credit agreement with its bank, Kayak requres a minimum psh balance of $40,000 at each month-end. In return the bank has agreed that the company can borrow up to $150.000 at a month 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 $40.000 on the last day of each month. The company has a cash balance of $40,000 and a loan balance of $80.000 at January Prepare monthly cash budgets for January February and March (Negative balances and Loan repayment amounts if any) should be indicated with minus sign.) 1 KAYAK COMPANY March 526.000 For denuary February, and with January Tary teghe 40.000 5 40.000 Cashmere 028.000 410.000 Totalcash 568.000 450.000 Casey 468300 350.000 100 Primary cash balance Addicionalna may Endng cash L Loonetegnng of month con loop Lanbane End of more 0.000 ME Pery 6718 Net

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students