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 $ $516,000$ $ $458,400$ February $405,000347,400$ March $467,000534,000$ Kayak requires a minimum cash balance of $$40,000$ at each month$-$end. The company can borrow money at a monthly interest rate of $1\%,$ paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $$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. $($Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign.$)$

Please make a chart that includes the follwoing information for January, Feb, and march

Cash budget

$-$Beginning cash balance

$-$add: cash receipts

$-$ Total cash available

$-$ less: cash payments for

$-$ all items excluding interest

$-$interest on loan

$-$ total cash payments

$-$preliminary cash balance

$-$loan activity

$-$additional loan $($loan repayment$)$

$-$ ending cash balance

Loan balance

$-$ loan balance beginning of the month

$-$ additional loan $($loan repayment$)$

$-$ Loan balance, end of month

Thank you so much in advance!