please explain too

Foyert Corp. requires a minimum $7,400 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly) Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $7,400 and the company has an outstanding loan of $3,400. Forecasted cash receipts (other than for loans recelved) and forecasted cash payments (other than for loan or interest payments) follow October November December Cash receipts Cash payments $23,400 26,100 $17,400 $21,400 16,400 14,600 Prepare a cash budget for October, November, and December. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) FOYERT CORP Cash Budget For October, November, and December October November December Beginning cash balance 7,400$ 7,400 7,400 Cash receipts 23.400 17 400 21,400 28.800 30,800 24,800 Total cash available indicated with minus sign. Round your final answers to the nearest whole dollar.) FOYERT CORP Cash Budget For October, November, and December December October November Beginning cash balance Cash receipts 7,400 $ 7,400 $ 7,400 23,400 17,400 21,400 Total cash available 30,800 24,800 28,800 Cash payments 26,100 16,400 14,600 Interest on bank loan 34 Preliminary cash balance Additional loan (loan repayment) 4,666 Ending cash balance Loan balance Loan balance - Beginning of month $ 3,400 Additional loan (loan repayment) Loan balance -End of month