Question 5 help please

Kayak Co. 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 rst three months of next year. Cash Cash Receipts paynents Januaryr $526,860 $475,860 February 401,500 358,500 March 481, 300 52B, 300 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50,000 at each monthend. In return, the bank has agreed thatthe company can borrow up to $150,000 at a monthly interest rate of 1%, paid on the last day of each month. The interest is computed based on the beginning balance ofthe loan for the month. The company repays loan principal with any cash in excess of $50,000 on the last day of each month. 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. {Negative balances and Loan repayment amounts {if any) should be indicated with minus sign.) Beginning cash balance Total cash available Additional loan (loan repayment} Loan balance End of month