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 $527,000 401, see 482,000 Cash payments $471, 6ee 346, 100 529,800 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 $140,000 at a monthly interest rate of 1%, pald 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 KAYAK COMPANY Cash Budget For January, February, and March January February Beginning cash balance 5 3 0,000 S 30.000 Cash receipts 527,000 401,500 Total cash available 557,000 431 500 Cash payments 471,600 346,100 interest expense 600 Preliminary cash balance 85.400 Additional loan (loan repayment) 4 82,000 529,000 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 $140.000 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 balonces and Loan repayment amounts (if any) should be indicated with minus sign.) March 482000 KAYAK COMPANY Cash Budget For January, February, and March January February Beginning cash balance 30,000 $ 30,000 Cash receipts 527,000 401 500 Total cash available 557.000 431.500 Cash payments 471,600 115100 Pinterest expense 600 Preliminary cash balance 85,400 Additional loan (loan repayment) Ending cash balance 5 29.000 Loan balance $ 60,000 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance End of month