Kayak Company budgeted the following cash recelpts (excluding cash receipts fiom ioans received) ond cash poyments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Kayak requires a minimum cash balance of $40,000 at each month-end. Loans taken to meet this requirement charge th, interest per. month, paid of each month-end, 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 repoy loons at monthend. The company has a cash balance of $40,000 ond a loan balance of $80,000 at January 1 Prepare monthily cash budgets for January, February, and March: Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign