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Kayak Company 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 Kiyak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1% interest per month, paid at each monthend. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $30,000 is used to repay loans at monthend. The company has a cash balance of $30,000 and a loan balance of $60,000 at lanuary 1 . Required: Prepare monthly cash budgets for January, February, and March. (Use cells AS to I14 from the given information to complete this question. Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Negative amounts or amounts to be deducted should be input and displayed as negative values. All other answers should be input and displayed as positive values.) (Use cells AS to 114 from the given information to complete this question. Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Negative amounts or amounts to be deducted should be input and displayed as negative values. All other answers should be input and displayed as positive values.)

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