Cash Cash ReceiptsDisbursements January $516,000 February 411,000 March $460,600 355,600 533,000 452,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $40,000 at each month-end. In return, the bank has agreed that the company can borrow up to $160,000 at an annual interest rate of 12%, 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 available gash on ahe lanut day of each month. The company has a cash balance of 540000 and a loan balance of $80,000 at January 1 Prepare monthly cash budgets for each of the first three months of next year (Negative balances and Loan repayment amounts (if any) should be indicated with minus signs.) KAYAK COMPANY Cash Budget For January, February, and March JanuaryFebruary March Beginning cash balance 40,000 s40,000 516,000 556.000 Cash receipts Total cash available Interest expense Cash disbursements Preliminary cash balance Additional loan (loan repayment) Ending cash balance 411,000 451,000 452,000 460.600 355,600 533,000 Loan balance pare monthly cash budgets for each of the first three months of next year (Negative bal an repayment amounts (if any) should be indicated with minus signs.) KAYAK COMPANY Cash Budget For January, February, and March January February March S 40,00040,000 411,000 451,000 Beginning cash balance Cash receipts 516,000 452,000 Total cash available 556,000 Interest expense Cash disbursements Preliminary cash balance Additional loan (loan repayment) Ending cash balance 460,600 355,600 533,000 Loan balance Loan balance- Beginning of month 80,000 Additional loan (loan repayment) Loan balance End of month O Type here to search 0 eR