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4 January February March Canh Receipta $520,000 403,000 476,000 Canh paymenta $463,500 346,500 531,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $30,000 at each month end. In return, the bank has agreed that the company can borrow up to $160,000 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. The company repays loan principal with any cash in excess of $30,000 on the last day of each month. The company has a cash balance of $30,000 and a loan balance of $60.000 at January 1 Prepare monthly cash budgets for January, February, and March (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) March KAYAK COMPANY Cash Budget For January February, and March January February Beginning cash balance $ 30,000 Cash receipts Total cash available Cash payments Pinterest expense Preliminary cash balance Additional loan (loan repayment Ending cash balance Loan balance Loen balance - Beginning of month $ 60,000 Additional loan oan repayment) Loan balance - End of month