Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash disbursements (excluding cash disbursements for loan principal and interest payments) for the first three months of next year...

I have been stuck on this problem for a couple days and would appreciate any help at all! Thank you so much.

Value 15.00 points Exercise 7-17 Preparation of cash budgets (for three periods) LO P2 Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received and cash disbursements (excluding cash disbursements for loan principal and interest payments) for the first three months of next year. Cash Cash Disbursements Receipts January $523,000 $482,000 February 404,500 349,000 March 473,000 530,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $40,000 at each month-end. In return, the bank has agreed that the company can borrow up to $140,000 at an annual interest rate of 12%, 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 available cash on the last day of each month. The company has a cash balance of $40,000 and a loan balance of $80,000 at January 1. Prepare monthly cash budgets for each of the first three months of next year. (Be certain to enter "0" wherever required. Negative balance and Loan repayment amount should be indicated with minus sign.) KAYAK COMPANY Cash Budget For January, February, and March February March January s 40,000 40,000 Beginning cash balance 404,500 Cash receipts 523,000 473,000 444.500 563,000 Total cash available (482,000) (530,000) Cash disbursements (800) (398) Interest expense 95.102 80,200 Preliminary cash balance Additional loan (loan repayment) Ending cash balance 40.000 40,000 Loan balance 39,800 0 80,000 Loan balance Beginning of month Additional loan (loan repayment) (40,200) 39800 Loan balance End of month