Prepare Cash Budget For $3$ MonthsBrewster Corporation expects the following cash receipts and disbursements during the first quarter of the year $($receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January $1)$JanuaryFebruaryMarchCash receipts$$340,000$$$360,000$$$330,000$Cash disbursements$320,000400,000340,000$The expected cash balance at January $1,$ is $$122,000.$ Brewster wants to maintain a cash balance at the end of each month of at least $$120,000.$ Short$-$term borrowings at $1\%$ interest per month will be used to accomplish this, if necessary. Borrowings $($in multiples of $$1,000)$ will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March $31.$Brewster CorporationCash Budget for the Quarter EndedMarch $31$JanuaryFebruaryMarchBeginning cash balanceCash receiptsShort$-$term borrowingsCash availableCash disbursementsInterest paymentTotal cash disbursementsEnding cash balance