Directions: Please complete the following two questions in Excel. Use formulas and cell referencing. Do not manually calculate values. Question 1: Cash Budget ABC Inc. sells $60,000 and $80,000 worth of goods in January and February respectively. The controller indicates that 50% of the customers pay their bills on a cash basis, 40% in 30 days and 10% in 60 days. During the month of January and February, the company purchased 30,000 and $50,000 worth of goods from suppliers respectively. The company's policy is to pay 50% on a cash basis and the other 50% during the following 30 days. The monthly administrative expenses are broken down as follows: The company's opening cash balance for the month of January is $1,000. Prepare a Cash Budget for company ABC Inc for January, February, and March. Use Table 7.2 in your textbook as a template reference