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Kayak Company budgeted the following cash receipts excluding cash receipts from loans received and cash...

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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 January February March Cash Receipts Cash payments 516 000 462 800 406 000 467 000 352 800 533 000 Kayak requires a minimum cash balance of 40 000 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 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 Note Negative balances and Loan repayment amounts if any should be indicated with minus sign Beginning cash balance Total cash available Total cash payments KAYAK COMPANY Cash Budget January 40 000 February March

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