Help January February March Cash Receipts $ 518,000 408,000 464,000 Cash payments $ 464,800 354,800 531,000 Kayak requires a minimum cash balance of $50,000 at each month-end. Loans taken to meet this requirement charge 1%, interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $50,000 is used to repay loans at month-end. 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 (if any) should be indicated with minus sign.) March KAYAK COMPANY Cash Budget January February $ 50,000 $ 50.000 518,000 408,000 568,000 458,000 Beginning cash balance Add: Cash receipts Total cash available 464.000 464,800 1,000 465,800 0 0 Interest on loan Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance $ 50,000 Loan balance $ 100,000 $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month