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Check Exercise 7-17 (Algo) Preparation of cash budgets (for three periods) LO P2 Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash pa (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $ 516,000 403,500 477,000 Cash payments $ 463,900 351, 400 522,000 Kayak requires a minimum cash balance of $40,000 at each month-end. The company can borrow money at ar interest rate of 1%, paid on the last day of each month. The interest is computed based on the beginning baland for the month. Any preliminary cash balance above $40,000 is used to repay loans at month-end. The compan 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 an any) should be indicated with minus sign.) CAVAB KAYAK COMPANY Cash Budget January 15 February March Beginning cash balance points $ 40,000 Total cash available eBook Hint Ask Print Total cash payments Preliminary cash balance Loan activity References Ending cash balance Loan balance Mc Graw Hill Prev 1 of 1 Next 1 Total cash payments Preliminary cash balance Loan activity nts eBook Ending cash balance Loan balance Hint $ 80,000 Ask Loan balance - Beginning of month Additional loan (loan repayment) Print Loan balance, end of month eferences Check Exercise 7-17 (Algo) Preparation of cash budgets (for three periods) LO P2 Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash pa (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $ 516,000 403,500 477,000 Cash payments $ 463,900 351, 400 522,000 Kayak requires a minimum cash balance of $40,000 at each month-end. The company can borrow money at ar interest rate of 1%, paid on the last day of each month. The interest is computed based on the beginning baland for the month. Any preliminary cash balance above $40,000 is used to repay loans at month-end. The compan 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 an any) should be indicated with minus sign.) CAVAB KAYAK COMPANY Cash Budget January 15 February March Beginning cash balance points $ 40,000 Total cash available eBook Hint Ask Print Total cash payments Preliminary cash balance Loan activity References Ending cash balance Loan balance Mc Graw Hill Prev 1 of 1 Next 1 Total cash payments Preliminary cash balance Loan activity nts eBook Ending cash balance Loan balance Hint $ 80,000 Ask Loan balance - Beginning of month Additional loan (loan repayment) Print Loan balance, end of month eferences

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