Help Save& Exit Submit aster Budget xercise 4 Kayak Co budgeted the following cash receipts (excluding payments for loan principal and interest payments) for the first three months of next year cash receipts from loans received) and cash payments (excluding cash 350,00 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $30,000 at each month-end In return, the bank has agreed that the company can borrow up to $150,000 at a monthly interest rate of h, paid on the ast day of each month. The interest is computed based on the beginning balance of the loan for the month. The company repays loan balance of $60,000 at January 1 Prepare monthly cash budgets for January. February, and March (Negative balances and Loan repayment amounts of any) should principal with any cash in excess of $30,000 on the last day of each month. The company has a cash balance of $30,000 and a loan be indicated with minus sign) Cash Budget For January. February, and March Beginning cash balance Total cash availabe