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 $ $519,000$ $ $464,700$

February $406,500352,200$

March $460,000520,000$

Kayak requires a minimum cash balance of $$50,000$ at each month$-$end. The company can borrow money at a monthly interest rate of $1\%,$ paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $$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. $($Neg