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.

Cash Receipts Cash payments

January $ $522,000$ $ $466,600$

February $406,000350,600$

March $454,000530,000$

Kayak requires a minimum cash balance of $$50,000$ at each month$-$end. Loans taken to meet this requirement charge $1\%,$ interest per month, paid at each month$-$end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $$50,000$ is used to repay loans at month$-$end. The company has a cash balance of $$50,000$ and a loan balance of $$100,000$ 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,$$,50,000],[$P$],[$Total cash available$],[,,,,],[7],[,,,,],[$Total cash payments$],[$Preliminary cash balance$],[$Loan activity$],[-],[$Ending cash balance$],[$Loan balance$],[$Loan balance $-$ Beginning of month,$$,100,000,,],[$Additional loan $($loan repayment$)],[$Loan balance, end of month,,,,$]]$