PLEASE EXPLAIN IN EXCEL FORMAT:

Prepare monthly cash budgets for January, February, and March.

2 6 7 10 11 12 13 14 15 16 .17 .18 19 20 21 Kayak Company budgeted the following cash receipts (exduding cash receipts from [dansrecived) and cash payments (excluding cash menb for loan inci al and interest ments for the first three menthsdfHCxt -r. January Februa March $525,000 400,000 450/000 S47500 i soooo 525,000 kayak require a minimum cash balance of $30,000 at each month-end. Loans takentO meet this requirement charge 1% interest per month, paid at each month-end. The interest is computed based on the beginning balance Of the loarifOr the month. Any preliminary cull balance above $30,000 iz used to repay loans at month-end-The corn an has a cash balance Of $30,000 and a loan balance of $60,000 at Janua I. ! Required: Prepare monthly cash budgets 'or Janua , februa , and March. iniiriurn ash MOH aryuar:y" - 'A i riter _$30,om $30,000 $0000 (Use cells AS to 114 from the given informa60ti to complete this Negative nd Loan should be iodioted with minus sign. Negative Ot amounts to be deducted should be Oti*t answers should be input and displayed as positive