1 Cash payments for loan principal and interest Payments) for me itse muree months on next yedi. January February March Cash Receipts $ 527,000 407,500 471,000 Cash payments $ 473,800 354,300 530,000 15 points Kayak requires a minimum cash balance of $30,000 at each month-end. The company can borrow money at a monthly 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. Any preliminary cash balance above $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1 eBook Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) Hint Ask KAYAK COMPANY Cash Budget January February 30,000 $ 30,000 March Beginning cash balance Add: Cash receipts Total cash available Print References 0 0 0 Less: Cash payments for Interest on loan All items excluding interest Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance Loan balance $ 60,000 $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month