Please explain workings (how numbers are calculated) thoroughly

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. January February March Cash Receipts $ 516,000 407,500 482,000 Cash payments $ 456,200 347,700 532,000 Kayak requires a minimum cash balance of $40,000 at each month-end. The company can borrow money at a monthly interest rate of 1%, paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $40,000 is used to repay loans at month-end. The company has a cash balance of $40,000 and a loan balance of $80,000 at January 1. Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) KAYAK COMPANY Cash Budget January $ 40,000 March February $ 40,000 Beginning cash balance 516,000 407,500 482,000 556,000 447,500 Add: Cash receipts Total cash available Less: Cash payments for Cash payments 456,200 347,700 532,000 Interest on loan 800 457,000 347,700 532,000 Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance Loan balance $ 80,000 $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month