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.

Kayak requires a minimum cash balance of $$30,000$ 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 $$30,000$ is

used to repay loans at month$-$end. The company has a cash balance of $$30,000$ and a loan balance

of $$60,000$ at January $1.$ Prepare monthly cash budgets for January, February, and March.