Kasik Company budgeted the following cash receipts and cash disbursements for the first three months of next year. Cash receipts Cash Disbursements January $500,000 $450,000 February 300,000 250,000 March 400,000 500,000 According to a credit agreement with the companys bank, Kasik promises to have a minimum cash balance of $30,000 at each month-end. In return, the bank has agreed that the company can borrow up to $150,000 at an annual interest rate of 12%, paid the last day of each month. The interest is computed based on the beginning balance of the loan for the month. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for each of the first three months of next year