Check my Kayak Co 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 first three months of next year, January February March Receipts $518,000 488,500 472,000 Cash pants $460,400 350,900 520,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow up to $140,000 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 $50.000 on the last day of each month. The company has a cash balance of $50,000 and a loan balance of $100.000 at January 1 Prepare monthly cash budgets for January February, and March (Negative balances and Loan repayment amounts of ony) should be indicated with minus sign.) KAYAK COMPANY Cash Budget For anny, February, and March January February $ 50 000 Marchi Beginning cash balance CALCASI DJUUUU UUC 1o Udy VI COLTIVILLIC LIPOLOS Last Waldne VIDJVUVU CHU GIUGUGILCULT January 1 Prepare monthly cash budgets for January, February, and March (Negative balances and Loan repayment amounts (if any be indicated with minus sign.) ASCOMY CORO Por Jonny Forty od March Policy 50,000 March Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Loan balance $ 100,000 Loan balance Beginning of month Additional loan (loan repayment) Loan balance - End of month Beginning cash balance 50,000 Total cash available Preliminary cash balance 1 Ending cash balance Loon balance 100,000 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month