Kayak Company budgeted the following cash receipts $[$excluding cash recelpts from Ioans received$)$ and casil payments $($excluding cash payments for loan principal and interest payments$)$ for the first three months of next year.

$\backslash$table$[[,$Cash pocolpts,Cash paynents$],[$January$,$$$517,009,$$$459,400],[$February$,403,500,345,900],[$March$,462,000,539,600]]$

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

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

Note: Negatlve bolances and Loon repoyment amounts $($ff any$)$ should be Indicated with minus sign.

Answer is not complete.

$\backslash$table$[[$KAYAK COMP ANY$],[$Cash Budgest$],[,$January,February,March$],[$Elegirning cash balance,$$40,000,$$$40,0000,5,74,1680],[$Addt Cash receipts,$517,0000,403,5000,462,0000],[$Total cash avalable,$557,000,443,500,536,168],[$Less: Cash payments for,,,$],[$All items excluding interest,$459,4000,345,5000,530,0000],[$Interest on loan,$8000,2320,68,000$ox$],[$Total cash payments,$460,200,346,132,598,000],[$Preliminary cash balance$],[$Loan activity$],[$Adaltional Ioan $($loan repayment$),0$ox$,0$ox$,0\%],[$Ending cash balance$],[$Loan balance$],[$Loan baj ance $-$ Elegirning of month,$$80,000,,0],[$Additional Ioan $($loan repayment$)],[$Loan bal ance, ond of month,,,$]]$