3. Award: 3.75 points 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 rst three months of next year. Cash Receipts Gash payments January $ 515.000 $ 459.600 February 403.000 347.600 March 460.000 526.000 Kayak requires a minimum cash balance of $40,000 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 540.000 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. {Negative balances and Loan rspsymsrr amounts (If sny) should be Indicated with minus sign.) __ Emilt cesium Cash Budget