Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (e payments for loan principal and interest payments) for the first three months of next year Cash Cash JanuarY February March $521,000 411,500 470,000 $464,500 355,000 533,000 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 $150,000 at a monthly interest rate of 1%, paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. The compan 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 repayment amounts (if any) should be indicated with minus sign.) KAYAK COMPANY Cash Budget For January, February, and March February January $ 50,000 Beginning cash balance balance of $100,000 at January 1. Prepare monthly cash budgets for January, February, and March. (Negative balances and L be indicated with minus sign.) oan repayment amounts (If any) shou KAYAK COMPANY Cash Budget For January, February, and March January $50,000 Beginning cash balance Ending cash balance Loan balance Loan balance - Beginning of month 100,000 Loan bala End of month