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. January February March Cash Receipts $ 516,000 401,000 455,000 Cash payments $ 459,500 344,500 534,000 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 bulance above $10,000 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.) March KAYAK COMPANY Cash Budget January February $ 40,000 $ 40,000 516,000 401,000 556,000 441,000 455,000 Beginning cash balance TAdd cash receipts Total cash available Less Cash payments for Interest on loan Allomas excluding interest Total cash payments 0 0 Prepare monny Cash Duugels 101 January, February, and watch fregative paiances ana Low be indicated with minus sign.) March KAYAK COMPANY Cash Budget January February $ 40,000 $ 40,000 516,000 401,000 556,000 441,000 455,000 Beginning cash balance Add: Cash receipts Total cash available Less: Cash payments for Interest on loan All items excluding interest Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance 0 Loan balance $ 80,000 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month