You have been assigned to prepare the cash budget, which is one portion of the master budget for Marble Company.

According to a credit agreement with the company's bank, Marble Company promises to have a minimum cash balance of $50,000 at each month's end. In return, the bank has agreed that the 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 of the 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.

Marble Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principaland interest payments) for the first three months of next year.

\fCash Budget January February March Beginning Balance Cash Reciepts Total Cash Available Cash payments Interest expense Prelimnary cash balance Additional loan/ loan repayment Ending Cash Balance Loan Balance at the beginning of month Additional loan/ loan repayment Loan Balance-End of Month\fCash Budget January February March Beginning Balance Cash Receipts Total Cash Available Cash payments Interest expense Prelimnary cash balance Additional loan/ loan repayment Ending Cash Balance Loan Balance at the beginning of month Additional loan/ loan repayment Loan Balance-End of Month