help with budgets

Kayak Company 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. Cash Receipts Cash payments January $ $25,000 $ 470, 700 February 405,000 350,700 March 463,000 525,000 Kayak requires a minimum cash balance of $40,000 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 $40,000 is used to repay loans at month end. 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.) 0 F . KAYAK COMPANY Cash Budget January $ 40,000 February March Beginning cash balance Add: Cash receipts Total cash available Less: Cash payments for Interest on loan Cash payments Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance 0 0 0 Loan balance $ 80.000 U 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month