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.

Return to questic January February March $516,000 400, 500 469,000 $ 458,400 342,900 527,000 points According to a credit agreement with its bank, Kayak requires 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 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 company repays loan principal with any cash in excess of $30,000 on the last day of each 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 January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) March Answer is not complete. KAYAK COMPANY Cash Budget For January, February, and March January February Beginning cash balance $ 30,000 $ 30,000 Cash receipts 516,000 400,500 Total cash available 546,000 430,500 Cash payments 458,400 342.900 Interest expense 52 Preliminary cash balance 87,000 87,548 Additional loan (loan repayment) 57,000 57,548 X Ending cash balance $ 30,000 $ 30,000 Loan balance Loan balance - Beginning of month $ 60,000 $ 3,000 Additional loan (loan repayment) 57,000 57,548 Loan balance - End of month $ 3,000 $ 54,548 % $ 54,548