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$,$$$522,000,$$$464,400],[$February$,409,000,351,400],[$March$,477,000,521,000]]$

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.

Answer is not complete.

$\backslash$table$[[$KAYAK COMPANY$],[$Cash Budget$],[$Beginning cash balance,January,February,March$],[,$$$,50,000,50,000$vv$,50,000\backslash$times $],[$Add: Cash receipts,V$),,522,000,499,000\backslash$times $,477,000$vv$],[$Total cash available,,,$572,000,549,000,527,000],[$Less: Cash payments for,V$,,,,],[$All items excluding interest,V$,,,,],[$Interest on loan,V$,,,,],[$Total cash payments,,,$0,0,0],[$Preliminary cash balance$],[$Loan activity$],[$Additional loan $($loan repayment$)],[$Ending cash balance$],[$Loan balance$],[$Loan balance $-$ Beginning of month,,$$,100,000,,$$$],[$Additional loan $($loan repayment$)],[$Loan balance, end of month,,,,,$]]$