Please answer with excel forumlas and step by step explanations. Kayak Company budgeted the following...
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Accounting
Please answer with excel forumlas and step by step explanations. 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.
Cash Receipts Cash payments
January $ $
February
March
Kayak requires a minimum cash balance of $ at each monthend. Loans taken to meet this requirement charge interest per month, paid at each monthend. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $ is used to repay loans at monthend. The company has a cash balance of $ and a loan balance of $ at January
Prepare monthly cash budgets for January, February, and March.
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