Check my work 2 Exercise 20-17 Preparation of cash budgets (for three periods) LO P2 Kayak Co budgeted the folowing cash receipts (excluding cash receipts from loans received) and cash payments (exclucing cash payments for loan principal and interest payments) for the first three months of next year 14.28 cash eiptsill paynents 3525,e80 4e9,588 481,080 $465, 28g 349,780 524,896 March According to a credit agreement with the company's bank, Kayak promises to have a minimum cash bala In return, the bank has agreed that the company can borrow up to $150.000 at a monthly inte f each month. The interest is computed based on the beginning balance of the loan for the month. Tne mpany repays loan ot paid on the 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 January1 Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) Cash Budget For January, February, and March March Beginning cash balance S 50,000 Total cash avalable Preliminary cash balanoe Ending cash balance O Type here to search 0 ENG cash budgets 025140be indicated with minus sign.) monthly for January, February, and March. (Negative balances and Loan repayment amounts (if any) should Prepare KAYAK COMPANY Cash Budget For January, February, and March Book January February March Beginning cash balance 50,000 Total cash available Preliminary cash balance Ending cash balance Loan balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance- End of month $ 100,000 Mc Hill