Kayak Company 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.

$\backslash$table$[[,$Cash Receipts,Cash payments$],[$January$,$$$527,000,$$$474,900],[$February$,407,000,354,900],[$March$,459,000,521,000]]$

Kayak requires a minimum cash balance of $$40,000$ at each month$-$end. Loans taken to meet this requirement charge $1\%,$ interest per month, paid at each month$-$end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $$40,000$ is used to repay loans at month$-$end. The company has a cash balance of $$40,000$ and a loan balance of $$80,000$ at January $1.$

Prepare monthly cash budgets for January, February, and March.

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign.

$\backslash$table$[[$KAYAK COMPANY$],[$Cash Budget$],[,$January,February,March$],[$Beginning cash balance,$$,40,000,40,000,],[$Add: Cash receipts,,$527,000,407,000,],[$Total cash available,,$567,000,447,000,],[$Less: Cash payments for$],[$All items excluding interest,,$474,900,354,900,],[$Interest on loan$],[$Total cash payments,,$474,900,354,900,0],[$Preliminary cash balance$],[$Loan activity$],[$Additional loan $($loan repayment$)],[$Ending cash balance$],[$Loan balance$],[$Loan balance $-$ Beginning of month,$$,80,000,,$$$],[$Additional loan $($loan repayment$)],[$Loan balance, end of month,,,,$]]$