a Connet Chapter 7 Guiz Help Seve& Ei Suamit ce budgeted the following cash rece
ID: 2569869 • Letter: A
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a Connet Chapter 7 Guiz Help Seve& Ei Suamit ce budgeted the following cash receipts (excluding cash receges tom ioans receved and cash payments (escuing eash paymenes for loan principal and interest payments) for the first theee months of next year Receipts payments 525,600 $470,70e anuary February 41 54,800 524,89 According to a credit agreemens with the company's bank, Kayak promises to have a minimum cash balance of $30.000 at each month-end. in ast day of each moneh The interest is computed principal with any cash in excess of $30,000 an the last day of each month The compeny has a cesh that the company can borrow up to St50 000 at a monthly interest rabe of ts paid on the balance of $30,000 and a loan besed on the beginning balance of the loan for the month The company repays loen balance of $60,000 an Jenuary 1 Prepare monthiy cash budgess for January. Februery, and March (Negative indicated with minus sign) balances and Lean repayment amounts (if any) should Cash Budget For January. February, and March ash paryments Prev 10, 5 Next> Type hene to search ,, PrtScn., Home " End" pgUp 0Explanation / Answer
January
February
march
beginning cash balance
30000
30000
77937
cash receipts
525000
410500
454000
total cash available
555000
440500
531937
cash payments
470700
356200
524000
interest expense
600
63
0
preliminary cash balance
83700
84237
7937
repayment of loan or additional loan
-53700
-6300
22063
ending cash balance
30000
77937
30000
loan balance
beginning balance loan account
60000
6300
0
repayment or additional loan
-53700
-6300
22063
loan balance- end of month
6300
0
22063
January
February
march
beginning cash balance
30000
30000
77937
cash receipts
525000
410500
454000
total cash available
555000
440500
531937
cash payments
470700
356200
524000
interest expense
600
63
0
preliminary cash balance
83700
84237
7937
repayment of loan or additional loan
-53700
-6300
22063
ending cash balance
30000
77937
30000
loan balance
beginning balance loan account
60000
6300
0
repayment or additional loan
-53700
-6300
22063
loan balance- end of month
6300
0
22063
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