---- Ivan Juagets (for three periods) LO P2 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 Cash Receipts $518,000 401,500 453,000 Cash payments $459,300 342,800 523,000 According to a credit agreement with the company's bank, Kayak promises to have 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 paid on the Tast 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 be indicated with minus sign.) payment amounts (if any) should March KAYAK COMPANY Cash Budget For January, February, and March January February $ 50,000 $ 50,000 518,000| 401,500 568,000 451,500 459,3001 342,800 $ 50 Beginning cash balance Cash receipts Total cash available Cash payments 523,000 balance of $100,000 at January 1. Help Save & Exit Submit 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 For January, February, and March January February $ 50,000 $ 50,000 518,000| 401,500 568,000 451,500 459,300 342,800 1,000 $ Beginning cash balance Cash receipts Total cash available Cash payments Interest expense Preliminary cash balance 50 523,000 Ending cash balance Loan balance $ 100,000 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month $ 0