Directions:Please complete the following two questions in Excel. Use formulas and cell referencing. Do not manually calculate values.Question $1$: Cash BudgetABC 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:Salaries$ $12,000$Depreciation$2,000$Rent$3,000$Office supplies$500$Communication services$500$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 photo table for referance

Budgeting $285$