Check my 11 payments for loan principal and interest payments) for the first three months of next year, Cash Receipts $525,000 412.000 468,eee January February March Cash payments $466,300 353,300 528,000 10 points 000 Her According to a credit agreement with its bank, Kayak requires a minimum cash balance of $40,000 at each month-end In return, the bank has agreed that the company can borrow up to $150.000 at a monthly interest rate of 1%, paid on the last day of each month. Th 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 $40,000 on the last day of each month 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 repayment amounts (if any) should be indicated with minus sign.) KAYAK COMPANY Cash Budget For January, February, and March January February March an anal ins March KAYAK COMPANY Cash Budget For January, February, and March January February $ 40,000 $ 40,000 $ 525,000 412,000 565,000 452,000 466,300 353,300 Beginning cash balance Cash receipts Total cash available Cash payments interest expense Preliminary cash balance 61,332 468,000 529,332 528,000 ok 1 11 ences Ending cash balance Loan balance $ 80,000 $ Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month