Saved Help Save & Exit Submit Check my work 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 first three months of next year Cash Cash Receipts $519,eee 405,5ee 481,eee payments $460,30e 346,800 533,0ee January February March According to a credit agreement with its bank, Kayak requires 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 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 $30,000 on the last day of each month. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1 paid on the last day of each month. The ces Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) KAYAK COMPANY Cash Budget Next 8 of 16 KPrev ainm 1040 AM 030 U0UO010 KAYAK COMPANY Cash Budget For January, February, and March January February March Beginning cash balance $ 30,000 Cash receipts Total cash available Cash payments Interest expense Preliminary cash balance Additional loan (loan repayment) Ending cash balance Loan balance $ 60,000 $ Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month 8 of 16 Prev EA